Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $45.00 at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) had its target price raised by Bank of America from $39.00 to $45.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the restaurant operator's stock. Bank of America's price target suggests a potential downside of 17.99% from the stock's current price.

A number of other research analysts have also weighed in on CBRL. Loop Capital increased their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday. Citigroup reissued a "sell" rating and issued a $42.00 price target (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Truist Financial increased their target price on shares of Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Finally, UBS Group lifted their target price on Cracker Barrel Old Country Store from $48.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.71.

Cracker Barrel Old Country Store Price Performance

CBRL stock traded up $1.24 during trading on Friday, hitting $54.87. The stock had a trading volume of 285,667 shares, compared to its average volume of 810,057. The stock has a market capitalization of $1.22 billion, a P/E ratio of 30.28, a PEG ratio of 8.36 and a beta of 1.36. The company's 50-day moving average price is $47.29 and its two-hundred day moving average price is $49.81. Cracker Barrel Old Country Store has a twelve month low of $33.86 and a twelve month high of $65.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.69 and a quick ratio of 0.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.41. The firm had revenue of $821.10 million for the quarter, compared to analysts' expectations of $824.65 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. As a group, research analysts predict that Cracker Barrel Old Country Store will post 2.76 EPS for the current fiscal year.

Insider Transactions at Cracker Barrel Old Country Store

In other news, major shareholder Gmt Capital Corp acquired 105,900 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $35.94 per share, for a total transaction of $3,806,046.00. Following the completion of the acquisition, the insider now owns 2,452,200 shares in the company, valued at $88,132,068. This trade represents a 4.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 385,307 shares of company stock valued at $15,679,910 in the last quarter. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBRL. Bayforest Capital Ltd purchased a new stake in Cracker Barrel Old Country Store in the 1st quarter worth approximately $342,000. Woodline Partners LP increased its position in Cracker Barrel Old Country Store by 340.8% during the first quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator's stock valued at $12,919,000 after acquiring an additional 257,301 shares during the last quarter. Caxton Associates LLP bought a new stake in Cracker Barrel Old Country Store in the first quarter worth about $423,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the first quarter valued at $1,065,000. Finally, Scientech Research LLC boosted its position in Cracker Barrel Old Country Store by 276.2% in the 1st quarter. Scientech Research LLC now owns 18,892 shares of the restaurant operator's stock valued at $733,000 after buying an additional 13,870 shares during the period. Institutional investors own 96.01% of the company's stock.

Cracker Barrel Old Country Store Company Profile

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.

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