Citigroup Boosts Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $47.00

Key Points

• Citigroup has raised Cracker Barrel's price target from $45.00 to $47.00 while maintaining a "sell" rating, suggesting a potential downside of 8.51% from the current stock price.
• Other analysts have mixed views; Bank of America rates it "underperform," while Truist Financial set a "buy" rating with a price target of $65.00.
• Cracker Barrel's stock is currently down 2.7%, trading at $51.37, with a 12-month range of $33.85 to $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) had its price target lifted by Citigroup from $45.00 to $47.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the restaurant operator's stock. Citigroup's target price would indicate a potential downside of 8.51% from the stock's current price.

Other analysts also recently issued reports about the company. Bank of America boosted their target price on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a report on Friday, June 6th. Truist Financial upped their price target on shares of Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Loop Capital upped their price target on shares of Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, June 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $69.00 price target (up previously from $60.00) on shares of Cracker Barrel Old Country Store in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.86.

Cracker Barrel Old Country Store Stock Down 2.7%

Shares of CBRL traded down $1.44 during mid-day trading on Monday, reaching $51.37. The company's stock had a trading volume of 276,753 shares, compared to its average volume of 1,071,312. Cracker Barrel Old Country Store has a 12-month low of $33.85 and a 12-month high of $71.93. The stock has a market cap of $1.14 billion, a PE ratio of 19.95 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.65 and a quick ratio of 0.26. The company's 50 day moving average is $61.65 and its 200 day moving average is $52.58.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.41. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%.The business had revenue of $821.10 million for the quarter, compared to the consensus estimate of $824.65 million. During the same quarter in the prior year, the business posted $0.88 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts anticipate that Cracker Barrel Old Country Store will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hudson Bay Capital Management LP purchased a new stake in Cracker Barrel Old Country Store during the second quarter worth about $3,353,000. Caxton Associates LLP increased its holdings in Cracker Barrel Old Country Store by 177.9% during the 2nd quarter. Caxton Associates LLP now owns 30,267 shares of the restaurant operator's stock valued at $1,849,000 after acquiring an additional 19,374 shares in the last quarter. Public Sector Pension Investment Board increased its position in Cracker Barrel Old Country Store by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 75,805 shares of the restaurant operator's stock worth $4,630,000 after buying an additional 5,210 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Cracker Barrel Old Country Store by 331.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,973 shares of the restaurant operator's stock worth $182,000 after buying an additional 2,284 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its position in Cracker Barrel Old Country Store by 95.5% during the second quarter. State of Tennessee Department of Treasury now owns 10,670 shares of the restaurant operator's stock worth $652,000 after buying an additional 5,211 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

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.

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.