Wells Fargo & Company Begins Coverage on Cracker Barrel Old Country Store (NASDAQ:CBRL)

Key Points

• Wells Fargo & Company upgraded Cracker Barrel Old Country Store (NASDAQ:CBRL) to a "hold" rating, indicating a cautious approach to the stock.
• Cracker Barrel's stock has seen a significant downward adjustment in price targets, with analysts from Citigroup and Argus lowering their projections to $42.00 and $50.00, respectively.
• The stock currently holds a consensus rating of "Reduce" from multiple analysts, with a target price averaging at $50.88.

Equities research analysts at Wells Fargo & Company began coverage on shares of Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) in a report released on Friday, MarketBeat.com reports. The brokerage set an "equal weight" rating and a $42.00 price target on the restaurant operator's stock. Wells Fargo & Company's price target would indicate a potential upside of 6.01% from the stock's current price.

Several other research firms have also recently weighed in on CBRL. Citigroup lowered their price objective on shares of Cracker Barrel Old Country Store from $47.00 to $42.00 and set a "sell" rating on the stock in a research report on Thursday, September 18th. Wall Street Zen cut shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong sell" rating in a research report on Saturday, September 20th. Weiss Ratings restated a "hold (c-)" rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, October 8th. Zacks Research downgraded shares of Cracker Barrel Old Country Store from a "hold" rating to a "strong sell" rating in a research note on Friday, September 19th. Finally, Bank of America dropped their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set an "underperform" rating on the stock in a research note on Thursday, September 18th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Cracker Barrel Old Country Store has an average rating of "Reduce" and a consensus target price of $50.88.

Cracker Barrel Old Country Store Price Performance

NASDAQ CBRL opened at $39.62 on Friday. Cracker Barrel Old Country Store has a 1 year low of $33.85 and a 1 year high of $71.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.21 and a current ratio of 0.50. The stock has a market capitalization of $882.34 million, a P/E ratio of 19.14 and a beta of 1.32. The business's fifty day moving average is $50.16 and its two-hundred day moving average is $53.02.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share for the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. The firm had revenue of $845.09 million for the quarter. On average, research analysts forecast that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Large investors have recently bought and sold shares of the business. GMT Capital Corp bought a new stake in Cracker Barrel Old Country Store in the first quarter worth $78,750,000. Jump Financial LLC acquired a new position in Cracker Barrel Old Country Store during the 1st quarter worth $389,000. Trexquant Investment LP acquired a new position in Cracker Barrel Old Country Store during the 1st quarter worth $4,795,000. Capital Investment Counsel Inc lifted its position in Cracker Barrel Old Country Store by 53.2% during the 1st quarter. Capital Investment Counsel Inc now owns 28,442 shares of the restaurant operator's stock worth $1,104,000 after acquiring an additional 9,875 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Cracker Barrel Old Country Store during the 1st quarter worth $342,000. 96.01% of the stock is currently 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.