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

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective decreased by stock analysts at Loop Capital from $50.00 to $45.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Loop Capital’s price objective indicates a potential upside of 8.25% from the stock’s current price.

Other analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a report on Friday, May 31st. StockNews.com cut Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. UBS Group reduced their price objective 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. Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America reduced their price target on shares of Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, Cracker Barrel Old Country Store has an average rating of “Hold” and an average price target of $53.57.

Cracker Barrel Old Country Store Price Performance

Cracker Barrel Old Country Store stock opened at $41.57 on Friday. The stock has a market cap of $922.94 million, a price-to-earnings ratio of 15.34, a PEG ratio of 0.94 and a beta of 1.42. The company has a quick ratio of 0.23, a current ratio of 0.63 and a debt-to-equity ratio of 1.11. The business has a 50-day simple moving average of $40.93 and a 200 day simple moving average of $49.97. Cracker Barrel Old Country Store has a 52 week low of $34.88 and a 52 week high of $83.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 22.11% and a net margin of 1.77%. The company had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same quarter last year, the company posted $1.79 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts forecast that Cracker Barrel Old Country Store will post 3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at about $25,636,000. Norges Bank purchased a new position in Cracker Barrel Old Country Store during the 4th quarter valued at about $10,727,000. Verition Fund Management LLC raised its position in Cracker Barrel Old Country Store by 423.9% during the 4th quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock valued at $6,308,000 after purchasing an additional 66,215 shares during the last quarter. Armistice Capital LLC purchased a new stake in Cracker Barrel Old Country Store in the 4th quarter worth approximately $3,854,000. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of Cracker Barrel Old Country Store in the 1st quarter worth approximately $2,909,000. 96.01% of the stock is currently 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.