Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Expected to Rise, Argus Analyst Says

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price hoisted by stock analysts at Argus from $40.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Argus’ price objective suggests a potential upside of 27.32% from the stock’s previous close.

A number of other research analysts also recently weighed in on CBRL. Truist Financial increased their price target on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Freedom Capital raised Cracker Barrel Old Country Store to a “strong-buy” rating in a research note on Monday, April 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Friday, March 27th. Wells Fargo & Company raised Cracker Barrel Old Country Store from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $35.00 to $50.00 in a research note on Wednesday. Finally, UBS Group increased their price target on shares of Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Cracker Barrel Old Country Store presently has an average rating of “Hold” and a consensus target price of $41.29.

Cracker Barrel Old Country Store Trading Up 3.6%

Shares of NASDAQ:CBRL traded up $1.63 during trading on Thursday, hitting $47.13. 538,999 shares of the company’s stock were exchanged, compared to its average volume of 1,312,497. Cracker Barrel Old Country Store has a 1-year low of $24.85 and a 1-year high of $71.93. The firm has a 50-day moving average price of $31.48 and a two-hundred day moving average price of $30.15. The company has a current ratio of 0.50, a quick ratio of 0.18 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.05 billion, a P/E ratio of 41.02 and a beta of 1.30.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business had revenue of $797.37 million for the quarter, compared to analyst estimates of $776.69 million. During the same period in the prior year, the business posted $0.56 earnings per share. Cracker Barrel Old Country Store’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Cracker Barrel Old Country Store will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several large investors have recently made changes to their positions in CBRL. Axiom Investment Management LLC bought a new stake in Cracker Barrel Old Country Store in the 1st quarter valued at $28,000. Parvin Asset Management LLC raised its stake in shares of Cracker Barrel Old Country Store by 7.4% in the 1st quarter. Parvin Asset Management LLC now owns 16,635 shares of the restaurant operator’s stock valued at $468,000 after purchasing an additional 1,150 shares during the period. Royal Bank of Canada lifted its holdings in shares of Cracker Barrel Old Country Store by 55.0% in the first quarter. Royal Bank of Canada now owns 153,397 shares of the restaurant operator’s stock valued at $4,312,000 after purchasing an additional 54,431 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Cracker Barrel Old Country Store in the first quarter valued at about $251,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Cracker Barrel Old Country Store during the first quarter worth about $858,000. Institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.