Cracker Barrel Old Country Store (NASDAQ:CBRL) Posts Earnings Results, Beats Expectations By $0.82 EPS

Cracker Barrel Old Country Store (NASDAQ:CBRL) announced its quarterly earnings results on Wednesday. The restaurant operator reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.82, Zacks reports. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%.

Cracker Barrel Old Country Store Trading Up 1.4%

Cracker Barrel Old Country Store stock opened at $45.48 on Wednesday. Cracker Barrel Old Country Store has a 52-week low of $24.85 and a 52-week high of $60.26. The company has a market cap of $1.02 billion, a P/E ratio of 39.21 and a beta of 1.19. 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 business has a 50-day simple moving average of $53.91 and a two-hundred day simple moving average of $41.84.

Analysts Set New Price Targets

Several research firms recently issued reports on CBRL. Bank of America upped their price objective on Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Wells Fargo & Company boosted their price target on Cracker Barrel Old Country Store from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup upped their price target on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a report on Tuesday, July 21st. Wall Street Zen raised Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Argus boosted their target price on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.43.

About Cracker Barrel Old Country Store

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.