Cracker Barrel Old Country Store (NASDAQ:CBRL) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cracker Barrel Old Country Store (NASDAQ:CBRL) from a "strong sell" to a "sell" rating in a recent research report.
• Analysts remain mixed: the consensus rating is Hold with a $37.75 average price target, reflecting 1 Strong Buy, 2 Buy, 6 Hold and 4 Sell recommendations.
• Shares opened at $28.39 and were reported down about 4.5%; the company beat EPS estimates with $0.25 but revenue fell 7.9% year-over-year, leaving a negative net margin and a market cap around $634.5 million.

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

A number of other research firms also recently commented on CBRL. Bank of America dropped their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an "underperform" rating for the company in a research note on Friday, December 19th. UBS Group upped their price objective on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Citigroup upped their price objective on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a "sell" rating in a research note on Thursday, March 5th. Benchmark reaffirmed a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, March 5th. Finally, Wells Fargo & Company upped their price objective on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $37.75.

Cracker Barrel Old Country Store Trading Down 4.5%

NASDAQ CBRL opened at $28.39 on Friday. Cracker Barrel Old Country Store has a 12 month low of $24.85 and a 12 month high of $71.93. The company has a 50-day moving average of $30.11 and a 200-day moving average of $31.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $634.54 million, a P/E ratio of -157.71 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $874.82 million during the quarter, compared to the consensus estimate of $862.89 million. During the same quarter in the prior year, the company posted $1.38 EPS. The company's quarterly revenue was down 7.9% compared to the same quarter last year. As a group, equities analysts predict that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current year.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently bought and sold shares of the business. Hussman Strategic Advisors Inc. acquired a new stake in Cracker Barrel Old Country Store during the 3rd quarter worth approximately $2,776,000. TrueMark Investments LLC increased its position in Cracker Barrel Old Country Store by 1,754.1% during the 3rd quarter. TrueMark Investments LLC now owns 105,925 shares of the restaurant operator's stock worth $4,667,000 after purchasing an additional 100,212 shares in the last quarter. Allianz Asset Management GmbH grew its position in Cracker Barrel Old Country Store by 66.7% in the third 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 third quarter valued at approximately $2,355,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Cracker Barrel Old Country Store in the third quarter valued at approximately $2,505,000. Institutional investors and hedge funds own 96.01% of the company's stock.

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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