Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Upgraded at Zacks Investment Research

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 12th. The firm presently has a $181.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 19.34% from the stock’s current price.

According to Zacks, “Cracker Barrel’s shares outpaced the Zacks categorized Retail-Restaurants industry in the last one month. Notably, the fiscal third quarter marked the 24th successive earnings beat for the company. Cracker barrel is focused on increasing itsbrand’s relevance at both restaurants and retail stores through enhanced marketing efforts, menu innovation and new retail merchandise. Seasonal promotions and efforts to improve guest experience are also expected to drive incremental sales for the company. Moreover, its new fast casual concept, Holler & Dash Biscuit House, is anticipated to be a key long-term growth driver. Meanwhile, expansion of units and cost saving initiatives seem to bode well. However, comps at both restaurants and retail stores have been under pressure due to the challenging sales environment. Limited geographic diversity also remains a potent headwind. Moreover, higher costs are expected to weigh on margins.”

CBRL has been the topic of several other research reports. Maxim Group reaffirmed a “hold” rating and set a $170.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, May 17th. Wells Fargo & Company reaffirmed 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 report on Thursday, May 25th. BidaskClub raised Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Instinet began coverage on Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They set a “neutral” rating and a $162.00 price objective on the stock. Finally, Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Cracker Barrel Old Country Store currently has an average rating of “Hold” and a consensus price target of $165.78.

Shares of Cracker Barrel Old Country Store (CBRL) traded down 0.47% during trading on Wednesday, hitting $151.67. The stock had a trading volume of 271,545 shares. 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 $3.65 billion, a price-to-earnings ratio of 18.38 and a beta of 0.51. The stock’s 50 day moving average is $161.08 and its 200 day moving average is $161.15.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Tuesday, May 23rd. The restaurant operator reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. Cracker Barrel Old Country Store had a return on equity of 35.27% and a net margin of 6.80%. The firm had revenue of $700.40 million for the quarter, compared to the consensus estimate of $713.06 million. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts expect that Cracker Barrel Old Country Store will post $8.33 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Cracker Barrel Old Country Store by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,001 shares of the restaurant operator’s stock worth $335,000 after buying an additional 18 shares in the last quarter. Bank of Montreal Can boosted its stake in Cracker Barrel Old Country Store by 0.7% in the first quarter. Bank of Montreal Can now owns 3,526 shares of the restaurant operator’s stock worth $562,000 after buying an additional 23 shares in the last quarter. World Asset Management Inc boosted its stake in Cracker Barrel Old Country Store by 2.0% in the first quarter. World Asset Management Inc now owns 1,426 shares of the restaurant operator’s stock worth $227,000 after buying an additional 28 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Cracker Barrel Old Country Store by 1.2% in the second quarter. Capstone Asset Management Co. now owns 2,511 shares of the restaurant operator’s stock worth $420,000 after buying an additional 30 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Cracker Barrel Old Country Store by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 1,543 shares of the restaurant operator’s stock worth $258,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.85% 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.

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