Cracker Barrel Old Country Store (CBRL) Upgraded by BidaskClub to Buy

Cracker Barrel Old Country Store (NASDAQ:CBRL) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

CBRL has been the subject of several other reports. Maxim Group raised Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $190.00 in a research report on Thursday, April 11th. ValuEngine cut Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Thursday. Argus reaffirmed a “buy” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, February 27th. Finally, Wells Fargo & Co reduced their price objective on Cracker Barrel Old Country Store from $157.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $169.82.

NASDAQ:CBRL opened at $163.70 on Friday. Cracker Barrel Old Country Store has a 1 year low of $141.63 and a 1 year high of $185.00. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Tuesday, February 26th. The restaurant operator reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. Cracker Barrel Old Country Store had a return on equity of 34.20% and a net margin of 7.09%. The firm had revenue of $811.70 million during the quarter, compared to analysts’ expectations of $810.49 million. During the same period in the previous year, the firm earned $2.73 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that Cracker Barrel Old Country Store will post 8.95 earnings per share for the current year.

In other news, major shareholder Sardar Biglari sold 2,520 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $169.90, for a total transaction of $428,148.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chemical Bank raised its holdings in Cracker Barrel Old Country Store by 4.1% during the fourth quarter. Chemical Bank now owns 1,528 shares of the restaurant operator’s stock worth $244,000 after acquiring an additional 60 shares in the last quarter. Comerica Bank raised its holdings in Cracker Barrel Old Country Store by 0.6% during the fourth quarter. Comerica Bank now owns 12,250 shares of the restaurant operator’s stock worth $2,070,000 after acquiring an additional 71 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Cracker Barrel Old Country Store by 6.4% during the first quarter. First Republic Investment Management Inc. now owns 1,395 shares of the restaurant operator’s stock worth $225,000 after acquiring an additional 84 shares in the last quarter. Signaturefd LLC raised its holdings in Cracker Barrel Old Country Store by 46.4% during the first quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 98 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Cracker Barrel Old Country Store by 2.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,043 shares of the restaurant operator’s stock worth $814,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 85.53% 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.

Read More: Understanding Price to Earnings Ratio (PE)

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

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