Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a hold rating to a buy rating in a report released on Thursday, ValuEngine reports.

Several other research firms also recently commented on CBRL. SunTrust Banks downgraded shares of Inflarx from a buy rating to a hold rating and cut their price objective for the stock from $55.00 to $5.00 in a report on Wednesday, June 5th. Telsey Advisory Group reissued an outperform rating and issued a $25.00 price target on shares of American Eagle Outfitters in a report on Wednesday, June 5th. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Wells Fargo & Co reissued a buy rating and issued a $55.00 price target on shares of Metlife in a report on Wednesday, June 5th. Finally, Maxim Group reissued a buy rating and issued a $9.00 price target on shares of Pareteum in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $170.54.

CBRL opened at $178.53 on Thursday. The business has a 50 day simple moving average of $167.64. The company has a market cap of $4.29 billion, a P/E ratio of 20.38, a PEG ratio of 1.98 and a beta of 0.58. Cracker Barrel Old Country Store has a 12 month low of $141.63 and a 12 month high of $185.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.57 and a current ratio of 0.99.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, June 4th. The restaurant operator reported $2.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.02. The company had revenue of $739.60 million during the quarter, compared to the consensus estimate of $735.15 million. Cracker Barrel Old Country Store had a net margin of 7.10% and a return on equity of 34.36%. Cracker Barrel Old Country Store’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $2.03 EPS. As a group, equities analysts anticipate that Cracker Barrel Old Country Store will post 9 earnings per share for the current year.

Cracker Barrel Old Country Store declared that its Board of Directors has approved a stock buyback plan on Tuesday, June 4th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a special dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $3.00 dividend. This represents a yield of 3%. The ex-dividend date of this dividend is Thursday, July 18th. Cracker Barrel Old Country Store’s payout ratio is 56.37%.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 12,130 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $170.02, for a total value of $2,062,342.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 1,116,899 shares of company stock valued at $191,482,548. Insiders own 0.88% of the company’s stock.

Large investors have recently made changes to their positions in the business. Mackay Shields LLC bought a new position in Cracker Barrel Old Country Store in the 4th quarter valued at $6,624,000. Bank of America Corp DE lifted its holdings in shares of Cracker Barrel Old Country Store by 21.2% during the 4th quarter. Bank of America Corp DE now owns 69,576 shares of the restaurant operator’s stock worth $11,122,000 after acquiring an additional 12,159 shares during the last quarter. South Street Advisors LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 218.2% during the 1st quarter. South Street Advisors LLC now owns 48,555 shares of the restaurant operator’s stock worth $7,847,000 after acquiring an additional 33,295 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 237.1% during the 1st quarter. SG Americas Securities LLC now owns 3,580 shares of the restaurant operator’s stock worth $579,000 after acquiring an additional 2,518 shares during the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 6.4% during the 1st quarter. Naples Global Advisors LLC now owns 11,218 shares of the restaurant operator’s stock worth $1,813,000 after acquiring an additional 670 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

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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