Wells Fargo & Co Increases Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $157.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price boosted by equities research analysts at Wells Fargo & Co from $155.00 to $157.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co‘s price objective suggests a potential downside of 5.06% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Maxim Group reaffirmed a “buy” rating and issued a $195.00 price target on shares of Cracker Barrel Old Country Store in a research report on Tuesday, October 15th. ValuEngine raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. MKM Partners initiated coverage on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 26th. They set a “neutral” rating and a $160.00 price objective for the company. Finally, SunTrust Banks boosted their price objective on shares of Cracker Barrel Old Country Store from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $174.25.

Shares of Cracker Barrel Old Country Store stock traded up $1.78 during trading hours on Friday, reaching $165.36. The company’s stock had a trading volume of 250,400 shares, compared to its average volume of 380,562. The firm has a 50 day moving average price of $160.33 and a 200-day moving average price of $165.87. Cracker Barrel Old Country Store has a one year low of $150.43 and a one year high of $185.00. The stock has a market cap of $3.88 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.22.

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

In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 9,007 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $165.95, for a total transaction of $1,494,711.65. Following the transaction, the chief executive officer now owns 153,514 shares in the company, valued at approximately $25,475,648.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sandra B. Cochran sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.04, for a total transaction of $3,280,800.00. Following the transaction, the chief executive officer now owns 153,828 shares in the company, valued at approximately $25,233,945.12. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its stake in Cracker Barrel Old Country Store by 1.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,440 shares of the restaurant operator’s stock valued at $758,000 after purchasing an additional 60 shares in the last quarter. Alpha Windward LLC increased its stake in Cracker Barrel Old Country Store by 2.5% during the 2nd 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 in the last quarter. US Bancorp DE increased its stake in Cracker Barrel Old Country Store by 3.0% during the 2nd 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 in the last quarter. 6 Meridian increased its stake in Cracker Barrel Old Country Store by 2.6% during the 2nd quarter. 6 Meridian now owns 2,916 shares of the restaurant operator’s stock valued at $498,000 after purchasing an additional 73 shares in the last quarter. Finally, Laffer Investments increased its stake in Cracker Barrel Old Country Store by 1.8% during the 2nd quarter. Laffer Investments now owns 4,390 shares of the restaurant operator’s stock valued at $750,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

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 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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