Cracker Barrel Old Country Store, Inc. (CBRL) Stock Rating Reaffirmed by Maxim Group

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)‘s stock had its “hold” rating reissued by equities researchers at Maxim Group in a research note issued to investors on Wednesday. They presently have a $160.00 target price on the restaurant operator’s stock, up from their previous target price of $155.00. Maxim Group’s price target would indicate a potential upside of 6.67% from the company’s current price.

The analysts wrote, “We maintain our Hold rating on Cracker Barrel Old Country Store (CBRL), though raise our price target to $160, from $155, following the investor day conference yesterday at the company’s Lebanon, TN headquarters.””

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $181.00 price objective for the company in a research note on Wednesday, July 12th. BidaskClub raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Instinet initiated coverage on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 12th. They set a “neutral” rating and a $162.00 price objective for the company. Nomura initiated coverage on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 12th. They set a “neutral” rating and a $162.00 price objective for the company. Finally, Bank of America Corporation reduced their price objective on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating for the company in a research note on Monday, September 11th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Cracker Barrel Old Country Store presently has an average rating of “Hold” and a consensus price target of $163.78.

Shares of Cracker Barrel Old Country Store (NASDAQ CBRL) traded up 0.41% on Wednesday, hitting $150.61. 70,410 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $148.82 and its 200 day moving average is $157.48. Cracker Barrel Old Country Store has a 12 month low of $130.15 and a 12 month high of $175.04. The firm has a market cap of $3.62 billion, a P/E ratio of 17.99 and a beta of 0.51.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 13th. The restaurant operator reported $2.23 EPS for the quarter, beating the consensus estimate of $2.18 by $0.05. The company had revenue of $743.20 million during the quarter, compared to analysts’ expectations of $746.72 million. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. Cracker Barrel Old Country Store’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.12 earnings per share. On average, equities analysts predict that Cracker Barrel Old Country Store will post $8.82 earnings per share for the current year.

Cracker Barrel Old Country Store declared that its board has approved a share buyback program on Friday, September 29th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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In other Cracker Barrel Old Country Store news, Director Andrea Weiss sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $153.39, for a total value of $306,780.00. Following the completion of the transaction, the director now owns 11,758 shares of the company’s stock, valued at approximately $1,803,559.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sandra B. Cochran sold 36,794 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the completion of the transaction, the chief executive officer now directly owns 157,591 shares of the company’s stock, valued at approximately $23,901,826.97. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Crawford Investment Counsel Inc. grew its stake in Cracker Barrel Old Country Store by 25.3% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 96,408 shares of the restaurant operator’s stock worth $16,124,000 after buying an additional 19,437 shares in the last quarter. Jensen Investment Management Inc. grew its stake in Cracker Barrel Old Country Store by 24.4% in the 2nd quarter. Jensen Investment Management Inc. now owns 3,880 shares of the restaurant operator’s stock worth $649,000 after buying an additional 760 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cracker Barrel Old Country Store by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 395,781 shares of the restaurant operator’s stock worth $63,028,000 after buying an additional 11,236 shares in the last quarter. California Public Employees Retirement System grew its stake in Cracker Barrel Old Country Store by 3.0% in the 1st quarter. California Public Employees Retirement System now owns 30,800 shares of the restaurant operator’s stock worth $4,905,000 after buying an additional 900 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Cracker Barrel Old Country Store by 18,784.9% in the 1st quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock worth $358,755,000 after buying an additional 2,240,854 shares in the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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

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