Barclays Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

Key Points

• Barclays has lowered its target price for CAVA Group from $91.00 to $74.00, maintaining an "equal weight" rating, which suggests a potential upside of only 7.39% from the current stock price.
• Despite Barclays' pessimism, other firms like Bank of America have raised their price target for CAVA Group to $121.00, indicating a mixed outlook among analysts.
• CAVA Group stock has seen a significant decline, down 18.5%, with current trading around $68.91, after reaching a 52-week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) had its target price lowered by Barclays from $91.00 to $74.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 7.39% from the stock's current price.

A number of other research firms also recently issued reports on CAVA. Bank of America raised their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. UBS Group reduced their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, Citigroup increased their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.61.

CAVA Group Stock Down 18.5%

CAVA Group stock opened at $68.91 on Wednesday. CAVA Group has a 52-week low of $64.94 and a 52-week high of $172.43. The firm has a fifty day moving average of $83.46 and a 200-day moving average of $92.30. The firm has a market capitalization of $7.97 billion, a P/E ratio of 56.45, a PEG ratio of 4.11 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, research analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 4,845 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $364,150.20. Following the sale, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. The trade was a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Schulman sold 31,856 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the completion of the sale, the chief executive officer owned 792,318 shares in the company, valued at $59,550,620.88. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,603 shares of company stock valued at $4,522,089 in the last three months. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares during the period. Vision Financial Markets LLC bought a new stake in shares of CAVA Group in the 1st quarter valued at about $26,000. Dagco Inc. bought a new stake in shares of CAVA Group in the 1st quarter valued at about $27,000. Versant Capital Management Inc bought a new stake in shares of CAVA Group in the 1st quarter valued at about $31,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of CAVA Group in the 2nd quarter valued at about $31,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.