Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) from a hold rating to a sell rating in a research note issued to investors on Monday, September 11th.

According to Zacks, “Cracker Barrel shares have underperformed the industry year to date. It reported lower-than-expected revenues in eight of the trailing nine quarters. Moreover, comps at both restaurants and retail stores have been under pressure due to the challenging sales environment. Consequently, the company also lowered its comps outlook for the full-year fiscal 2017. Nevertheless, going forward, enhanced marketing efforts, differentiated menu offerings, seasonal promotions and the launch of its new fast casual concept, Holler & Dash Biscuit House, could aid in driving sales. Modest expansion efforts and cost-saving initiatives also bode well. Estimates have been stable lately ahead of its fiscal fourth quarter earnings release and the company has positive record of earnings surprises in recent quarters. Still, higher costs are expected to weigh on margins. The company’s limited geographic diversity also remains a cause of concern.”

Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Sunday, July 16th. Instinet initiated coverage on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 12th. They set a neutral rating and a $162.00 price objective on the stock. Nomura initiated coverage on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 12th. They set a neutral rating and a $162.00 price objective on the stock. Wells Fargo & Company reiterated a market perform rating and set a $156.00 price objective (down previously from $157.50) on shares of Cracker Barrel Old Country Store in a research note on Thursday, May 25th. Finally, Maxim Group reiterated a hold rating and set a $170.00 price objective on shares of Cracker Barrel Old Country Store in a research note on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $163.22.

Shares of Cracker Barrel Old Country Store (CBRL) opened at 146.53 on Monday. The stock’s 50 day moving average price is $149.76 and its 200-day moving average price is $158.57. The firm has a market cap of $3.52 billion, a PE ratio of 17.76 and a beta of 0.52. Cracker Barrel Old Country Store has a 52-week low of $130.15 and a 52-week high of $175.04.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 EPS for the quarter, topping the consensus estimate of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The business had revenue of $743.20 million for the quarter, compared to analysts’ expectations of $746.72 million. During the same quarter last year, the company posted $2.12 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Cracker Barrel Old Country Store will post $8.81 earnings per share for the current fiscal year.

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In other Cracker Barrel Old Country Store news, Director Andrea Weiss sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $153.39, for a total value of $306,780.00. Following the sale, the director now owns 11,758 shares in the company, valued at $1,803,559.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandra B. Cochran sold 36,794 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the completion of the sale, the chief executive officer now owns 157,591 shares in the company, valued at approximately $23,901,826.97. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of CBRL. BlackRock Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 18,784.9% in the first quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock valued at $358,755,000 after acquiring an additional 2,240,854 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 15.3% in the first quarter. Vanguard Group Inc. now owns 2,216,606 shares of the restaurant operator’s stock valued at $352,995,000 after acquiring an additional 294,756 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Cracker Barrel Old Country Store by 338.6% in the first quarter. Schroder Investment Management Group now owns 243,160 shares of the restaurant operator’s stock valued at $38,801,000 after acquiring an additional 187,718 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 77.7% in the first quarter. AQR Capital Management LLC now owns 413,559 shares of the restaurant operator’s stock valued at $65,859,000 after acquiring an additional 180,824 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 1,707.6% in the first quarter. Gotham Asset Management LLC now owns 75,252 shares of the restaurant operator’s stock valued at $11,984,000 after acquiring an additional 71,089 shares in the last quarter. Institutional investors and hedge funds own 85.80% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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