Cracker Barrel Old Country Store (NASDAQ:CBRL) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on CBRL. Wells Fargo & Company boosted their target price on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Piper Sandler dropped their target price on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 10th. Bank of America dropped their target price on shares of Cracker Barrel Old Country Store from $34.00 to $29.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research report on Friday, March 27th. Finally, Citigroup boosted their target price on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.75.

Cracker Barrel Old Country Store Price Performance

Shares of Cracker Barrel Old Country Store stock opened at $28.99 on Monday. The firm has a fifty day simple moving average of $30.12 and a 200-day simple moving average of $31.70. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90. Cracker Barrel Old Country Store has a 1-year low of $24.85 and a 1-year high of $71.93. The stock has a market capitalization of $647.93 million, a price-to-earnings ratio of -161.05 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.35. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The business had revenue of $874.82 million during the quarter, compared to analysts’ expectations of $862.89 million. During the same period in the previous year, the company earned $1.38 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, sell-side analysts expect that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Friday, April 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, April 10th. Cracker Barrel Old Country Store’s payout ratio is -555.56%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several institutional investors and hedge funds have recently bought and sold shares of CBRL. Caitong International Asset Management Co. Ltd bought a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at $35,000. Canada Pension Plan Investment Board bought a new stake in Cracker Barrel Old Country Store in the 2nd quarter valued at $37,000. Byrne Asset Management LLC bought a new stake in Cracker Barrel Old Country Store in the 3rd quarter valued at $51,000. Finally, CWM LLC increased its holdings in Cracker Barrel Old Country Store by 85.1% in the 4th quarter. CWM LLC now owns 2,345 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 1,078 shares during the period. Institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.