Cracker Barrel Old Country Store (NASDAQ:CBRL) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cracker Barrel (NASDAQ:CBRL) from a "sell" to a "strong sell" in a note issued Sunday.
• Analyst coverage is mixed—one Strong Buy, two Buy, six Hold and four Sell—with an average rating of "Hold" and an average 12‑month target price of $37.75.
• The stock opened at $30.20 (12‑month range $24.85–$71.93) and has a market cap of ~$675M; the company reported an EPS beat ($0.25 vs. -$0.10 est.) but revenue fell 7.9% year‑over‑year, and institutional ownership is about 96%.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday.

A number of other equities research analysts have also issued reports on the stock. UBS Group boosted their price target on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Benchmark restated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, March 5th. Truist Financial increased their price target on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Weiss Ratings restated a "sell (d+)" rating on shares of Cracker Barrel Old Country Store in a research note on Friday, March 27th. Finally, Freedom Capital raised shares of Cracker Barrel Old Country Store to a "strong-buy" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.75.

Cracker Barrel Old Country Store Trading Up 3.9%

Shares of Cracker Barrel Old Country Store stock opened at $30.20 on Friday. Cracker Barrel Old Country Store has a 12-month low of $24.85 and a 12-month high of $71.93. The stock has a market cap of $674.97 million, a PE ratio of -167.77 and a beta of 1.24. The company has a 50-day moving average of $29.73 and a two-hundred day moving average of $30.95. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.35. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The business had revenue of $874.82 million during the quarter, compared to analyst estimates of $862.89 million. During the same period in the prior year, the business earned $1.38 earnings per share. The business's quarterly revenue was down 7.9% on a year-over-year basis. On average, research 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. acquired a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $2,776,000. TrueMark Investments LLC increased its position in Cracker Barrel Old Country Store by 1,754.1% in the 3rd quarter. TrueMark Investments LLC now owns 105,925 shares of the restaurant operator's stock valued at $4,667,000 after acquiring an additional 100,212 shares in the last quarter. Allianz Asset Management GmbH increased its position in Cracker Barrel Old Country Store by 66.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 456,278 shares of the restaurant operator's stock valued at $20,104,000 after acquiring an additional 182,533 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $2,355,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at about $2,505,000. 96.01% of the stock is owned by institutional investors.

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.

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