Bank of America Forecasts Strong Price Appreciation for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective raised by investment analysts at Bank of America from $34.00 to $40.00 in a research note issued on Monday,MarketScreener reports. Bank of America‘s target price suggests a potential downside of 9.85% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group upped their price objective on Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 10th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. BofA increased their price target on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday. Citigroup raised their price target on shares of Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the company a “sell” rating in a research report on Wednesday, June 10th. Finally, Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and an average target price of $41.88.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock traded up $0.88 on Monday, hitting $44.37. The company had a trading volume of 139,821 shares, compared to its average volume of 1,320,698. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $71.93. 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 market cap of $991.69 million, a P/E ratio of 38.37 and a beta of 1.30. The company has a 50-day moving average price of $32.14 and a 200-day moving average price of $30.40.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.45) by $0.74. The firm had revenue of $797.37 million for the quarter, compared to analyst estimates of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.Cracker Barrel Old Country Store’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. As a group, equities research analysts predict that Cracker Barrel Old Country Store will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently added to or reduced their stakes in CBRL. PNC Financial Services Group Inc. raised its position in Cracker Barrel Old Country Store by 22.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 321 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Cracker Barrel Old Country Store by 16.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 400 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Cracker Barrel Old Country Store by 4.3% during the third quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the restaurant operator’s stock worth $529,000 after purchasing an additional 500 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Cracker Barrel Old Country Store by 8.4% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after purchasing an additional 519 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cracker Barrel Old Country Store by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after purchasing an additional 546 shares during the last quarter. 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.