BidaskClub upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a sell rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. SunTrust Banks lowered their price objective on shares of Cracker Barrel Old Country Store to $161.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. Telsey Advisory Group downgraded shares of Cracker Barrel Old Country Store from an outperform rating to a market perform rating and lowered their price objective for the company from $190.00 to $170.00 in a research report on Wednesday, June 5th. Maxim Group set a $195.00 price objective on shares of Cracker Barrel Old Country Store and gave the company a buy rating in a research report on Sunday, September 15th. Wells Fargo & Co restated an in-line rating and set a $150.00 price objective (down previously from $156.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday, September 11th. Finally, ValuEngine downgraded shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $172.82.

NASDAQ:CBRL opened at $166.12 on Wednesday. The company’s 50 day moving average price is $166.08 and its 200-day moving average price is $165.06. Cracker Barrel Old Country Store has a 52 week low of $144.12 and a 52 week high of $185.00. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.77 and a beta of 0.59.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.27. The firm had revenue of $787.10 million for the quarter, compared to analysts’ expectations of $781.90 million. Cracker Barrel Old Country Store had a net margin of 7.27% and a return on equity of 36.01%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.19 earnings per share. As a group, sell-side analysts anticipate that Cracker Barrel Old Country Store will post 9.37 earnings per share for the current year.

Cracker Barrel Old Country Store declared that its Board of Directors has authorized a share buyback plan on Tuesday, June 4th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to buy up to 1.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO Sandra B. Cochran sold 9,007 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $165.95, for a total transaction of $1,494,711.65. Following the transaction, the chief executive officer now owns 153,514 shares in the company, valued at $25,475,648.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sardar Biglari sold 13,887 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $169.97, for a total transaction of $2,360,373.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,008,608 shares of company stock worth $173,032,478. 0.88% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Cracker Barrel Old Country Store by 1.4% in the first quarter. BlackRock Inc. now owns 2,630,579 shares of the restaurant operator’s stock worth $425,129,000 after acquiring an additional 36,576 shares during the period. Wells Fargo & Company MN raised its position in Cracker Barrel Old Country Store by 2.5% in the second quarter. Wells Fargo & Company MN now owns 618,653 shares of the restaurant operator’s stock worth $105,622,000 after acquiring an additional 15,360 shares during the period. Bessemer Group Inc. raised its position in Cracker Barrel Old Country Store by 0.8% in the second quarter. Bessemer Group Inc. now owns 430,078 shares of the restaurant operator’s stock worth $73,427,000 after acquiring an additional 3,391 shares during the period. APG Asset Management N.V. raised its position in Cracker Barrel Old Country Store by 17.4% in the second quarter. APG Asset Management N.V. now owns 391,900 shares of the restaurant operator’s stock worth $58,754,000 after acquiring an additional 58,100 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Cracker Barrel Old Country Store by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 385,466 shares of the restaurant operator’s stock worth $65,811,000 after acquiring an additional 1,052 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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

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