Truist Financial Raises Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $64.00

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) had its target price upped by analysts at Truist Financial from $63.00 to $64.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. Truist Financial's price target points to a potential upside of 5.37% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Loop Capital cut their target price on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. UBS Group reiterated a "neutral" rating and issued a $60.00 price objective (up from $48.00) on shares of Cracker Barrel Old Country Store in a report on Tuesday, June 3rd. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a report on Monday, March 10th. Wall Street Zen upgraded Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Sunday, March 2nd. Finally, Citigroup reiterated a "sell" rating and issued a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cracker Barrel Old Country Store has an average rating of "Hold" and an average target price of $53.71.

Cracker Barrel Old Country Store Stock Up 9.7%

Shares of NASDAQ CBRL traded up $5.36 during trading on Friday, reaching $60.74. The company had a trading volume of 1,495,168 shares, compared to its average volume of 817,080. Cracker Barrel Old Country Store has a 12-month low of $33.86 and a 12-month high of $65.43. The stock has a market cap of $1.35 billion, a PE ratio of 33.56, a P/E/G ratio of 8.36 and a beta of 1.45. The business's 50-day moving average is $47.96 and its 200 day moving average is $50.00. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

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

Insiders Place Their Bets

In other news, major shareholder Gmt Capital Corp bought 105,900 shares of the company's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $35.94 per share, with a total value of $3,806,046.00. Following the completion of the transaction, the insider now owns 2,452,200 shares of the company's stock, valued at approximately $88,132,068. This trade represents a 4.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have bought 385,307 shares of company stock valued at $15,679,910. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Cracker Barrel Old Country Store in the first quarter worth about $25,000. Sterling Capital Management LLC raised its stake in shares of Cracker Barrel Old Country Store by 685.9% in the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock worth $29,000 after buying an additional 487 shares during the period. Brooklyn Investment Group bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth about $30,000. Meeder Asset Management Inc. bought a new position in shares of Cracker Barrel Old Country Store in the first quarter worth about $45,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Cracker Barrel Old Country Store by 360.2% in the first quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator's stock worth $46,000 after buying an additional 922 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

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.