Brokerages Set Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Target Price at $35.25

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has received a consensus recommendation of “Reduce” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $35.25.

CBRL has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Gordon Haskett raised shares of Cracker Barrel Old Country Store to a “strong sell” rating in a research report on Wednesday, December 10th. Wells Fargo & Company dropped their target price on shares of Cracker Barrel Old Country Store from $42.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. Truist Financial cut their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Monday, December 29th.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $32.83 on Friday. The stock has a 50 day moving average price of $29.87 and a 200 day moving average price of $38.06. Cracker Barrel Old Country Store has a 52 week low of $24.85 and a 52 week high of $71.93. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 0.51. The stock has a market capitalization of $733.09 million, a PE ratio of 43.77 and a beta of 1.28.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. The firm had revenue of $797.19 million for the quarter, compared to analyst estimates of $806.71 million. Cracker Barrel Old Country Store had a return on equity of 9.74% and a net margin of 0.49%.The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Analysts predict that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Insider Activity at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $28.15, for a total transaction of $2,384,305.00. Following the transaction, the insider directly owned 2,749,000 shares of the company’s stock, valued at approximately $77,384,350. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 381,500 shares of company stock worth $10,258,409. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its holdings in shares of Cracker Barrel Old Country Store by 113.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 273,745 shares of the restaurant operator’s stock worth $16,720,000 after buying an additional 145,511 shares during the period. Hussman Strategic Advisors Inc. bought a new position in Cracker Barrel Old Country Store in the 3rd quarter valued at about $2,776,000. TrueMark Investments LLC lifted its position in Cracker Barrel Old Country Store by 1,754.1% during the third quarter. TrueMark Investments LLC now owns 105,925 shares of the restaurant operator’s stock worth $4,667,000 after acquiring an additional 100,212 shares during the last quarter. Entropy Technologies LP acquired a new stake in Cracker Barrel Old Country Store during the second quarter worth approximately $678,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 31.9% during the second quarter. Envestnet Asset Management Inc. now owns 70,829 shares of the restaurant operator’s stock worth $4,326,000 after acquiring an additional 17,147 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.