Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Up 4.1% Following Analyst Upgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares shot up 4.1% during mid-day trading on Friday after Bank of America raised their price target on the stock from $42.00 to $45.00. Bank of America currently has an underperform rating on the stock. Cracker Barrel Old Country Store traded as high as $50.04 and last traded at $50.04. 59,852 shares were traded during mid-day trading, a decline of 92% from the average session volume of 730,403 shares. The stock had previously closed at $48.07.

A number of other research analysts have also recently issued reports on the stock. Argus cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Truist Financial increased their price objective on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday. UBS Group cut their target price on Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, September 19th. Finally, Loop Capital reduced their target price on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock worth $324,000 after acquiring an additional 306 shares during the period. Comerica Bank boosted its stake in Cracker Barrel Old Country Store by 49.6% in the 1st quarter. Comerica Bank now owns 12,850 shares of the restaurant operator’s stock worth $935,000 after purchasing an additional 4,263 shares during the period. International Assets Investment Management LLC purchased a new position in Cracker Barrel Old Country Store during the 3rd quarter valued at about $1,016,000. XTX Topco Ltd bought a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at about $616,000. Finally, CWM LLC lifted its holdings in shares of Cracker Barrel Old Country Store by 96.3% in the second quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock worth $36,000 after buying an additional 419 shares in the last quarter. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Price Performance

The business’s 50-day moving average price is $45.15 and its 200 day moving average price is $44.97. The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $1.08 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a return on equity of 18.65% and a net margin of 1.18%. The firm had revenue of $894.39 million during the quarter, compared to the consensus estimate of $898.94 million. During the same period in the previous year, the company posted $1.79 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.94 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, October 18th were given a dividend of $0.25 per share. The ex-dividend date was Friday, October 18th. This represents a $1.00 annualized dividend and a yield of 2.05%. Cracker Barrel Old Country Store’s payout ratio is presently 54.35%.

Cracker Barrel Old Country Store Company Profile

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.