Cracker Barrel Old Country Store (NASDAQ:CBRL) Lifted to “Hold” at BidaskClub

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

Several other equities research analysts have also recently issued reports on CBRL. Wells Fargo & Co reissued an in-line rating and set a $150.00 target price (down previously from $156.00) on shares of Cracker Barrel Old Country Store in a research note on Wednesday, September 11th. Maxim Group set a $195.00 target price on Cracker Barrel Old Country Store and gave the stock a buy rating in a research note on Sunday, September 15th. Telsey Advisory Group cut Cracker Barrel Old Country Store from an outperform rating to a market perform rating and cut their target price for the stock from $190.00 to $170.00 in a research note on Wednesday, June 5th. Zacks Investment Research raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a research note on Thursday, May 23rd. Finally, SunTrust Banks cut their target price on Cracker Barrel Old Country Store to $161.00 and set a hold rating for the company in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $172.82.

NASDAQ:CBRL opened at $166.12 on Wednesday. The stock has a 50 day moving average price of $166.08 and a 200 day moving average price of $165.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.62. The stock has a market cap of $3.99 billion, a PE ratio of 17.92, a P/E/G ratio of 1.82 and a beta of 0.59. Cracker Barrel Old Country Store has a one year low of $144.12 and a one year high of $185.00.

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

Cracker Barrel Old Country Store declared that its board has approved a stock repurchase program on Tuesday, June 4th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, CEO Sandra B. Cochran sold 9,007 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $165.95, for a total transaction of $1,494,711.65. Following the completion of the transaction, the chief executive officer now directly owns 153,514 shares in the company, valued at $25,475,648.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Sardar Biglari sold 211,243 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $170.57, for a total value of $36,031,718.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,008,608 shares of company stock valued at $173,032,478. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its position in shares of Cracker Barrel Old Country Store by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,440 shares of the restaurant operator’s stock worth $758,000 after buying an additional 60 shares during the period. Alpha Windward LLC boosted its holdings in Cracker Barrel Old Country Store by 2.5% in the second quarter. Alpha Windward LLC now owns 2,919 shares of the restaurant operator’s stock valued at $511,000 after purchasing an additional 70 shares during the period. US Bancorp DE boosted its holdings in Cracker Barrel Old Country Store by 3.0% in the second quarter. US Bancorp DE now owns 2,392 shares of the restaurant operator’s stock valued at $408,000 after purchasing an additional 70 shares during the period. 6 Meridian boosted its holdings in Cracker Barrel Old Country Store by 2.6% in the second quarter. 6 Meridian now owns 2,916 shares of the restaurant operator’s stock valued at $498,000 after purchasing an additional 73 shares during the period. Finally, Laffer Investments boosted its holdings in Cracker Barrel Old Country Store by 1.8% in the second quarter. Laffer Investments now owns 4,390 shares of the restaurant operator’s stock valued at $750,000 after purchasing an additional 79 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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