Truist Financial Increases Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $44.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price raised by Truist Financial from $42.00 to $44.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target indicates a potential upside of 6.20% from the company’s previous close.

Several other analysts have also recently commented on CBRL. Bank of America dropped their price target on Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Loop Capital reduced their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Friday. Argus cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Finally, Benchmark upgraded Cracker Barrel Old Country Store to a “hold” rating in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and a consensus target price of $54.14.

Cracker Barrel Old Country Store Price Performance

Shares of CBRL stock traded up $0.32 during mid-day trading on Friday, hitting $41.43. 309,276 shares of the stock were exchanged, compared to its average volume of 752,659. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. Cracker Barrel Old Country Store has a 52-week low of $34.88 and a 52-week high of $83.51. The firm has a fifty day moving average of $40.95 and a 200 day moving average of $50.28. The company has a market cap of $919.83 million, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The business had revenue of $894.39 million for the quarter, compared to analysts’ expectations of $898.94 million. During the same quarter in the prior year, the company posted $1.79 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that Cracker Barrel Old Country Store will post 3.83 earnings per share for the current year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock valued at $190,263,000 after buying an additional 6,804 shares during the period. Earnest Partners LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 0.4% in the 1st quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock worth $148,107,000 after acquiring an additional 7,587 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth approximately $25,636,000. Norges Bank acquired a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at approximately $10,727,000. Finally, Principal Financial Group Inc. raised its position in Cracker Barrel Old Country Store by 0.3% in the first quarter. Principal Financial Group Inc. now owns 115,605 shares of the restaurant operator’s stock valued at $8,408,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

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.