Cracker Barrel Old Country Store (NASDAQ:CBRL) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a hold rating in a research note released on Wednesday, BidAskClub reports.

Several other brokerages have also recently issued reports on CBRL. SunTrust Banks dropped their price target on Cracker Barrel Old Country Store to $161.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. Wells Fargo & Co restated an in-line rating and issued a $150.00 price target (down previously from $156.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday, September 11th. Zacks Investment Research upgraded Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Thursday, May 23rd. Maxim Group set a $195.00 price target on Cracker Barrel Old Country Store and gave the company a buy rating in a research report on Sunday, September 15th. Finally, Telsey Advisory Group cut Cracker Barrel Old Country Store from an outperform rating to a market perform rating and dropped their price target for the company from $190.00 to $170.00 in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $172.82.

Shares of CBRL stock opened at $166.12 on Wednesday. The stock has a market capitalization of $3.99 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.59. Cracker Barrel Old Country Store has a 52-week low of $144.12 and a 52-week high of $185.00. The stock’s 50-day moving average price is $166.08 and its 200 day moving average price is $165.06. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.66.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.27. The firm had revenue of $787.10 million for the quarter, compared to analysts’ expectations of $781.90 million. Cracker Barrel Old Country Store had a return on equity of 36.01% and a net margin of 7.27%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.19 EPS. Analysts expect that Cracker Barrel Old Country Store will post 9.37 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store declared that its board has initiated a stock buyback program on Tuesday, June 4th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 75,910 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $174.46, for a total transaction of $13,243,258.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sandra B. Cochran sold 9,007 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $165.95, for a total value of $1,494,711.65. Following the transaction, the chief executive officer now owns 153,514 shares in the company, valued at approximately $25,475,648.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,008,608 shares of company stock worth $173,032,478 in the last quarter. 0.88% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC acquired a new position in Cracker Barrel Old Country Store during the 1st quarter worth approximately $26,000. Adirondack Trust Co. increased its position in Cracker Barrel Old Country Store by 104.0% during the 1st quarter. Adirondack Trust Co. now owns 255 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 130 shares during the period. Enterprise Financial Services Corp increased its position in Cracker Barrel Old Country Store by 298.4% during the 2nd quarter. Enterprise Financial Services Corp now owns 255 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 191 shares during the period. Signaturefd LLC increased its position in Cracker Barrel Old Country Store by 46.4% during the 1st quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 98 shares during the period. Finally, Stonebridge Capital Advisors LLC acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter worth approximately $74,000. Institutional investors own 85.00% 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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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Analyst Recommendations for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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