Bank of America Forecasts Strong Price Appreciation for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target boosted by stock analysts at Bank of America from $42.00 to $45.00 in a report released on Friday,Benzinga reports. The firm presently has an “underperform” rating on the restaurant operator’s stock. Bank of America‘s price objective suggests a potential downside of 7.81% from the company’s previous close.

Other analysts also recently issued reports about the stock. Truist Financial upped their price objective on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Loop Capital lowered their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Argus cut Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, UBS Group lowered their target price on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of “Hold” and an average price target of $54.57.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ:CBRL opened at $48.81 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.29 and a beta of 1.42. The business has a 50-day moving average of $45.15 and a two-hundred day moving average of $44.88. Cracker Barrel Old Country Store has a fifty-two week low of $34.88 and a fifty-two week high of $83.51. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.21.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). The company had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. On average, equities research analysts predict that Cracker Barrel Old Country Store will post 2.94 EPS for the current fiscal year.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP bought a new position in Cracker Barrel Old Country Store in the second quarter worth $25,636,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cracker Barrel Old Country Store by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after buying an additional 111,892 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $4,498,000. Verition Fund Management LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 96.0% during the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock worth $7,299,000 after acquiring an additional 78,816 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Cracker Barrel Old Country Store in the third quarter valued at about $2,526,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.