Cracker Barrel Old Country Store (NASDAQ:CBRL) Trading Down 5.3% – Here’s Why

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $48.14 and last traded at $47.84. 43,902 shares changed hands during trading, a decline of 96% from the average session volume of 1,174,656 shares. The stock had previously closed at $50.53.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Bank of America boosted their target price on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a research report on Monday, June 15th. Argus upped their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a report on Wednesday, June 10th. Finally, Citigroup lifted their price objective on shares of Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the stock a “sell” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and an average target price of $48.14.

Cracker Barrel Old Country Store Stock Down 4.3%

The business has a fifty day moving average price of $54.44 and a two-hundred day moving average price of $41.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.19. The firm has a market capitalization of $965.97 million, a price-to-earnings ratio of 37.26 and a beta of 1.19.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd acquired a new stake in Cracker Barrel Old Country Store during the 2nd quarter valued at approximately $347,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at $91,000. Allworth Financial LP increased its stake in shares of Cracker Barrel Old Country Store by 109.5% in the second quarter. Allworth Financial LP now owns 2,149 shares of the restaurant operator’s stock worth $115,000 after acquiring an additional 1,123 shares during the period. Arizona State Retirement System acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter worth $312,000. Finally, Corient Private Wealth LP raised its holdings in shares of Cracker Barrel Old Country Store by 102.9% during the second quarter. Corient Private Wealth LP now owns 45,996 shares of the restaurant operator’s stock worth $2,452,000 after purchasing an additional 23,322 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 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.