Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Cracker Barrel shares rose above their 200-day moving average of $41.84, reaching as high as $46.75 before last trading at $45.48 on elevated volume.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $49.43 price target, with recent targets ranging from $42 to $51.
• Institutional investors own 96.01% of the shares. Cracker Barrel has a $1.02 billion market capitalization, a P/E ratio of 39.21, and a debt-to-equity ratio of 0.72.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $41.84 and traded as high as $46.75. Cracker Barrel Old Country Store shares last traded at $45.48, with a volume of 1,447,095 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBRL. UBS Group lifted their target price on shares of Cracker Barrel Old Country Store from $37.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday. Piper Sandler reaffirmed a "neutral" rating and issued a $51.00 price target on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Citigroup upped their price target on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the stock a "sell" rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong-buy" rating in a report on Monday, August 24th. Finally, Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a "strong sell" rating to a "hold" rating in a research report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $49.43.

Cracker Barrel Old Country Store Price Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of 39.21 and a beta of 1.19. The company has a current ratio of 0.50, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $53.91 and a two-hundred day simple moving average of $41.84.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently modified their holdings of CBRL. Axiom Investment Management LLC bought a new position in Cracker Barrel Old Country Store in the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd raised its position in shares of Cracker Barrel Old Country Store by 107.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,246 shares of the restaurant operator's stock valued at $32,000 after acquiring an additional 645 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $35,000. Integrated Wealth Concepts LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at $91,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator's stock worth $50,000 after purchasing an additional 321 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 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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