Truist Financial Trims Cracker Barrel Old Country Store (NASDAQ:CBRL) Target Price to $94.00

Cracker Barrel Old Country Store (NASDAQ:CBRLGet Rating) had its target price cut by equities research analysts at Truist Financial from $104.00 to $94.00 in a report issued on Thursday, The Fly reports. Truist Financial’s target price would suggest a potential upside of 10.97% from the stock’s previous close.

Several other analysts have also issued reports on the company. MKM Partners dropped their price objective on Cracker Barrel Old Country Store from $140.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Cracker Barrel Old Country Store from $140.00 to $109.00 in a research note on Thursday, June 9th. StockNews.com lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. Citigroup lowered their target price on Cracker Barrel Old Country Store from $97.00 to $94.00 and set a “sell” rating on the stock in a research note on Friday, June 3rd. Finally, Loop Capital lowered their target price on Cracker Barrel Old Country Store from $132.00 to $113.00 in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.00.

CBRL opened at $84.71 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.22 and a current ratio of 0.63. The business’s 50-day simple moving average is $104.21 and its 200 day simple moving average is $116.87. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.78, a PEG ratio of 2.12 and a beta of 1.26. Cracker Barrel Old Country Store has a 52-week low of $82.29 and a 52-week high of $153.51.

Cracker Barrel Old Country Store (NASDAQ:CBRLGet Rating) last released its quarterly earnings data on Tuesday, June 7th. The restaurant operator reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.02). The business had revenue of $790.20 million during the quarter, compared to the consensus estimate of $793.96 million. Cracker Barrel Old Country Store had a net margin of 4.19% and a return on equity of 25.85%. Cracker Barrel Old Country Store’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS. On average, research analysts forecast that Cracker Barrel Old Country Store will post 6.05 earnings per share for the current year.

Cracker Barrel Old Country Store announced that its board has authorized a stock buyback plan on Tuesday, June 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

A number of large investors have recently made changes to their positions in CBRL. Bank of America Corp DE raised its position in shares of Cracker Barrel Old Country Store by 55.2% in the 1st quarter. Bank of America Corp DE now owns 869,240 shares of the restaurant operator’s stock worth $103,205,000 after acquiring an additional 309,186 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Nomura Holdings Inc. now owns 68,143 shares of the restaurant operator’s stock worth $7,862,000 after acquiring an additional 212 shares in the last quarter. Point72 Hong Kong Ltd raised its position in shares of Cracker Barrel Old Country Store by 141.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 747 shares of the restaurant operator’s stock worth $89,000 after acquiring an additional 437 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Cracker Barrel Old Country Store in the 1st quarter worth about $463,000. Finally, Royal Bank of Canada raised its position in shares of Cracker Barrel Old Country Store by 8.7% in the 1st quarter. Royal Bank of Canada now owns 94,410 shares of the restaurant operator’s stock worth $11,210,000 after acquiring an additional 7,529 shares in the last quarter. 81.40% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store (Get Rating)

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. The company's Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as dine-in, pick-up, and delivery services.

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