Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $45.00

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) had its target price raised by equities researchers at Bank of America from $42.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "underperform" rating on the restaurant operator's stock. Bank of America's price objective points to a potential downside of 7.81% from the company's previous close.

A number of other research firms also recently issued reports on CBRL. Argus downgraded shares of Cracker Barrel Old Country Store from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a "sell" rating to a "hold" rating in a report on Friday, September 20th. Loop Capital reduced their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Truist Financial upped their price objective on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the stock a "hold" rating in a report on Friday. Finally, UBS Group dropped their price target on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, Cracker Barrel Old Country Store presently has a consensus rating of "Hold" and a consensus target price of $54.57.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL stock traded up $0.74 during trading on Friday, reaching $48.81. 790,285 shares of the company's stock traded hands, compared to its average volume of 733,693. The company has a market capitalization of $1.08 billion, a P/E ratio of 26.53, a PEG ratio of 1.29 and a beta of 1.42. The firm's 50-day moving average is $45.15 and its 200 day moving average is $44.97. Cracker Barrel Old Country Store has a 1 year low of $34.88 and a 1 year high of $83.51. The company has a current ratio of 0.61, a quick ratio of 0.21 and a debt-to-equity ratio of 1.08.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last released its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.19). The firm had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. Cracker Barrel Old Country Store's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.79 earnings per share. Equities research analysts expect that Cracker Barrel Old Country Store will post 2.94 EPS for the current year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of CBRL. Public Employees Retirement System of Ohio grew its position in shares of Cracker Barrel Old Country Store by 22.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,349 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 247 shares during the period. ProShare Advisors LLC raised its stake in Cracker Barrel Old Country Store by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator's stock valued at $324,000 after buying an additional 306 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Cracker Barrel Old Country Store by 0.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 100,030 shares of the restaurant operator's stock valued at $4,536,000 after acquiring an additional 321 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Cracker Barrel Old Country Store by 200.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator's stock worth $25,000 after acquiring an additional 400 shares during the period. Finally, CWM LLC raised its position in Cracker Barrel Old Country Store by 96.3% during the second quarter. CWM LLC now owns 854 shares of the restaurant operator's stock worth $36,000 after acquiring an additional 419 shares during the period. 96.01% of the stock is owned by institutional investors.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.