Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $55.00

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) had its target price lifted by equities research analysts at Loop Capital from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the restaurant operator's stock. Loop Capital's price target would suggest a potential downside of 9.45% from the company's previous close.

A number of other brokerages have also recently commented on CBRL. Truist Financial increased their price target on shares of Cracker Barrel Old Country Store from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Friday. Benchmark reiterated a "hold" rating on shares of Cracker Barrel Old Country Store in a research note on Monday, March 10th. Citigroup reissued a "sell" rating and issued a $42.00 price objective (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. 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 reaffirmed a "neutral" rating and set a $60.00 price target (up from $48.00) on shares of Cracker Barrel Old Country Store in a research report on Tuesday, June 3rd. Two 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.71.

Cracker Barrel Old Country Store Stock Up 9.7%

CBRL traded up $5.36 during trading hours on Friday, hitting $60.74. 1,495,168 shares of the company's stock were exchanged, compared to its average volume of 817,080. Cracker Barrel Old Country Store has a 1-year low of $33.86 and a 1-year high of $65.43. The stock's 50-day moving average is $47.96 and its two-hundred day moving average is $50.00. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 8.36 and a beta of 1.45. 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 announced its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.17 by $0.41. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The business had revenue of $821.10 million during the quarter, compared to analysts' expectations of $824.65 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Sell-side analysts predict that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp purchased 26,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were bought at an average cost of $43.05 per share, with a total value of $1,140,825.00. Following the acquisition, the insider now owns 2,542,300 shares of the company's stock, valued at $109,446,015. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 385,307 shares of company stock worth $15,679,910 in the last ninety days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at approximately $25,000. Sterling Capital Management LLC grew its holdings in shares of Cracker Barrel Old Country Store by 685.9% during the 4th quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 487 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new stake in Cracker Barrel Old Country Store during the 1st quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. grew its holdings in Cracker Barrel Old Country Store by 360.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,178 shares of the restaurant operator's stock worth $46,000 after acquiring an additional 922 shares during the last quarter. 96.01% of the stock is owned by 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.