Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $60.00 Price Target at Argus

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective hoisted by stock analysts at Argus from $40.00 to $60.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Argus’ price objective would indicate a potential upside of 27.32% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a report on Monday, April 6th. Wall Street Zen downgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 19th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday. UBS Group increased their price target 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. Finally, Truist Financial raised their price objective on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.29.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL traded up $1.63 during mid-day trading on Thursday, reaching $47.13. 538,999 shares of the company were exchanged, compared to its average volume of 1,312,497. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $71.93. The stock has a market capitalization of $1.05 billion, a P/E ratio of 41.02 and a beta of 1.30. The company’s 50-day simple moving average is $31.48 and its 200-day simple moving average is $30.15. The company has a quick ratio of 0.18, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.

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

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cracker Barrel Old Country Store by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after buying an additional 546 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Cracker Barrel Old Country Store by 64.6% during the 2nd quarter. Cetera Investment Advisers now owns 9,210 shares of the restaurant operator’s stock valued at $563,000 after acquiring an additional 3,614 shares in the last quarter. Norges Bank acquired a new stake in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at $843,000. New York State Common Retirement Fund grew its position in Cracker Barrel Old Country Store by 23.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,386 shares of the restaurant operator’s stock worth $512,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Invesco Ltd. grew its position in Cracker Barrel Old Country Store by 76.0% during the 2nd quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator’s stock worth $21,430,000 after acquiring an additional 151,463 shares during the last quarter. Institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

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.