Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Cut to $62.00 by Analysts at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRLFree Report) had its target price lowered by Bank of America from $72.00 to $62.00 in a report published on Thursday, Benzinga reports. The firm currently has an underperform rating on the restaurant operator’s stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup raised their price target on shares of Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the company a sell rating in a report on Wednesday, February 28th. Piper Sandler lowered their target price on Cracker Barrel Old Country Store from $75.00 to $70.00 and set a neutral rating for the company in a research note on Monday, March 4th. UBS Group cut their price target on Cracker Barrel Old Country Store from $82.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Finally, Truist Financial lowered their price objective on Cracker Barrel Old Country Store from $68.00 to $60.00 and set a hold rating for the company in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $69.57.

Get Our Latest Analysis on Cracker Barrel Old Country Store

Cracker Barrel Old Country Store Trading Down 14.5 %

Shares of CBRL opened at $48.98 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.58 and a quick ratio of 0.21. Cracker Barrel Old Country Store has a 12 month low of $48.18 and a 12 month high of $116.05. The stock has a market cap of $1.09 billion, a PE ratio of 13.06, a P/E/G ratio of 3.52 and a beta of 1.48. The stock’s 50-day moving average is $62.11 and its two-hundred day moving average is $69.92.

Cracker Barrel Old Country Store (NASDAQ:CBRLGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. Cracker Barrel Old Country Store had a return on equity of 23.13% and a net margin of 2.43%. The firm had revenue of $935.40 million for the quarter, compared to analyst estimates of $917.83 million. During the same period in the previous year, the company posted $1.48 EPS. Cracker Barrel Old Country Store’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Cracker Barrel Old Country Store will post 4.45 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 19th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, July 19th. Cracker Barrel Old Country Store’s dividend payout ratio is currently 26.67%.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth about $32,000. Future Financial Wealth Managment LLC acquired a new stake in Cracker Barrel Old Country Store during the first quarter worth about $73,000. Security National Bank bought a new position in Cracker Barrel Old Country Store in the fourth quarter worth about $81,000. Newbridge Financial Services Group Inc. lifted its holdings in Cracker Barrel Old Country Store by 85.2% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,250 shares of the restaurant operator’s stock worth $91,000 after acquiring an additional 575 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Cracker Barrel Old Country Store by 106.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,531 shares of the restaurant operator’s stock valued at $118,000 after acquiring an additional 788 shares during the period. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

(Get Free Report)

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.

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