Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Gap Up Following Strong Earnings

Key Points

• Cracker Barrel’s shares gapped higher after the company reported adjusted earnings of $0.99 per share, far exceeding the roughly $0.17–$0.20 consensus estimate. Revenue also topped forecasts at $849.34 million, though it declined 2.2% year over year.
• Investors and analysts viewed the results and fiscal 2027 outlook as signs of a potential turnaround, while the stock moved above its 200-day moving average. Several brokerages raised their price targets, including Argus and Wells Fargo, although the consensus rating remains “Hold.”
• Management’s fiscal 2027 revenue guidance of $3.3 billion to $3.4 billion was cautious and roughly in line with analyst expectations, limiting visibility into future growth despite the stronger quarter.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $45.48, but opened at $47.57. Cracker Barrel Old Country Store shares last traded at $46.6240, with a volume of 566,905 shares traded.

The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.82. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company had revenue of $849.34 million during the quarter, compared to the consensus estimate of $844.99 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Cracker Barrel Old Country Store's revenue for the quarter was down 2.2% on a year-over-year basis.

Trending Headlines about Cracker Barrel Old Country Store

Here are the key news stories impacting Cracker Barrel Old Country Store this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Cracker Barrel reported adjusted earnings of $0.99 per share, compared with the Zacks consensus estimate of $0.20 and $0.74 a year earlier. The company also reported fiscal fourth-quarter profit of $12.2 million, or $0.54 per share, versus $6.75 million, or $0.30 per share, in the prior-year quarter. Cracker Barrel Q4 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Revenue also topped forecasts. Fiscal fourth-quarter revenue was $849.34 million, ahead of the approximately $845 million analyst estimate. Although revenue declined 2.2% year over year, the earnings performance and management’s comments on improving operating and financial metrics supported the recovery narrative. Cracker Barrel Earnings Report
• Positive Sentiment: Analysts viewed recent trends as evidence of a potential recovery. UBS cited fourth-quarter trends and the fiscal 2027 outlook as pointing toward recovery, adding to investor optimism following the earnings release. UBS Says Q4 Trends and Fiscal 2027 Outlook Point to Recovery
• Neutral Sentiment: Technical momentum improved. CBRL shares moved above their 200-day moving average, a development that can attract momentum-oriented investors, though it does not change the company’s underlying fundamentals. Cracker Barrel Shares Cross Above Two Hundred Day Moving Average
• Negative Sentiment: Fiscal 2027 revenue guidance was cautious. Management projected revenue of $3.3 billion to $3.4 billion, compared with analyst expectations near $3.4 billion. The range implies limited growth visibility and could temper enthusiasm if the company does not deliver further traffic or margin improvement. Cracker Barrel Fiscal 2026 Results and Fiscal 2027 Outlook

Analysts Set New Price Targets

A number of brokerages recently commented on CBRL. Bank of America increased their price target on Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday, June 15th. Argus lifted their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.43.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently bought and sold shares of CBRL. Quantinno Capital Management LP purchased a new position in Cracker Barrel Old Country Store during the 1st quarter worth approximately $858,000. Biglari Sardar acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth $3,685,215. Jupiter Asset Management Ltd. boosted its position in shares of Cracker Barrel Old Country Store by 173.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 155,530 shares of the restaurant operator's stock worth $3,950,000 after buying an additional 98,686 shares during the period. Pinnacle Holdings LLC purchased a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at $1,639,000. Finally, Fifth Third Bancorp grew its holdings in shares of Cracker Barrel Old Country Store by 5,188.7% during the first quarter. Fifth Third Bancorp now owns 29,405 shares of the restaurant operator's stock valued at $827,000 after buying an additional 28,849 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Stock Up 3.1%

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 40.30 and a beta of 1.19. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $53.91 and a two-hundred day moving average of $41.84.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a chain of full-service restaurants and retail stores under the Cracker Barrel brand. Its restaurants offer Southern-inspired, homestyle meals, including breakfast served throughout the day, lunch, dinner and seasonal menu items.

The company's adjoining country stores sell a variety of merchandise, including home décor, apparel, gifts, toys, games, candy, music and food products. Cracker Barrel's locations are designed around a nostalgic country-store and roadside dining experience, with many restaurants featuring front porches and rocking chairs.

Founded in 1969 by Dan Evins, the company opened its first location in Lebanon, Tennessee.

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