Cracker Barrel Old Country Store, Inc. (CBRL) Price Target Lowered to $140.00 at Bank of America Corporation

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) had its target price lowered by Bank of America Corporation from $150.00 to $140.00 in a research note published on Monday morning. The brokerage currently has an underperform rating on the restaurant operator’s stock.

Several other research firms have also issued reports on CBRL. Nomura initiated coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They set a neutral rating and a $162.00 target price for the company. BidaskClub lowered shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a hold rating to a buy rating and set a $181.00 target price for the company in a report on Wednesday, July 12th. Instinet initiated coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They set a neutral rating and a $162.00 target price for the company. Finally, Maxim Group reiterated a hold rating and set a $155.00 target price (down from $170.00) on shares of Cracker Barrel Old Country Store in a report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $163.22.

Shares of Cracker Barrel Old Country Store (CBRL) opened at 149.02 on Monday. Cracker Barrel Old Country Store has a 52 week low of $130.15 and a 52 week high of $175.04. The stock has a market capitalization of $3.58 billion, a P/E ratio of 18.06 and a beta of 0.52. The stock has a 50 day moving average price of $150.38 and a 200 day moving average price of $158.92.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $743.20 million during the quarter, compared to analyst estimates of $746.72 million. During the same period last year, the business earned $2.12 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that Cracker Barrel Old Country Store will post $8.86 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in CBRL. BlackRock Inc. raised its holdings in Cracker Barrel Old Country Store by 18,784.9% in the 1st quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock worth $358,755,000 after acquiring an additional 2,240,854 shares during the last quarter. Vanguard Group Inc. raised its stake in Cracker Barrel Old Country Store by 15.3% during the 1st quarter. Vanguard Group Inc. now owns 2,216,606 shares of the restaurant operator’s stock valued at $352,995,000 after buying an additional 294,756 shares during the last quarter. Schroder Investment Management Group raised its stake in Cracker Barrel Old Country Store by 338.6% during the 1st quarter. Schroder Investment Management Group now owns 243,160 shares of the restaurant operator’s stock valued at $38,801,000 after buying an additional 187,718 shares during the last quarter. AQR Capital Management LLC raised its stake in Cracker Barrel Old Country Store by 77.7% during the 1st quarter. AQR Capital Management LLC now owns 413,559 shares of the restaurant operator’s stock valued at $65,859,000 after buying an additional 180,824 shares during the last quarter. Finally, Gotham Asset Management LLC raised its stake in Cracker Barrel Old Country Store by 1,707.6% during the 1st quarter. Gotham Asset Management LLC now owns 75,252 shares of the restaurant operator’s stock valued at $11,984,000 after buying an additional 71,089 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

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.

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

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