Brokerages Set Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Price Target at $48.14

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.1429.

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Argus increased their price objective on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Citigroup lifted their target price on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their target price on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Bank of America upped their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research note on Monday, June 15th.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ:CBRL opened at $54.69 on Tuesday. Cracker Barrel Old Country Store has a 12 month low of $24.85 and a 12 month high of $60.26. The company’s 50-day moving average price is $54.89 and its two-hundred day moving average price is $40.66. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.22 billion, a P/E ratio of 47.15 and a beta of 1.19.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The firm had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million. During the same quarter last year, the company posted $0.56 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that Cracker Barrel Old Country Store will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cracker Barrel Old Country Store by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after buying an additional 546 shares during the period. Cetera Investment Advisers lifted its holdings in Cracker Barrel Old Country Store by 64.6% in the second quarter. Cetera Investment Advisers now owns 9,210 shares of the restaurant operator’s stock valued at $563,000 after buying an additional 3,614 shares during the period. Norges Bank bought a new position in Cracker Barrel Old Country Store in the second quarter valued at approximately $843,000. New York State Common Retirement Fund boosted its stake in Cracker Barrel Old Country Store by 23.6% in the second quarter. New York State Common Retirement Fund now owns 8,386 shares of the restaurant operator’s stock valued at $512,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Cracker Barrel Old Country Store by 76.0% during the 2nd quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator’s stock worth $21,430,000 after acquiring an additional 151,463 shares during the period. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.