Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Rating Reaffirmed by Wells Fargo & Co

Wells Fargo & Co reiterated their in-line rating on shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) in a report issued on Wednesday, The Fly reports. They currently have a $150.00 price target on the restaurant operator’s stock, down from their previous price target of $156.00.

Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a research report on Tuesday. SunTrust Banks reduced their price target on shares of Cracker Barrel Old Country Store to $161.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. ValuEngine cut shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Thursday, May 23rd. Finally, Telsey Advisory Group cut shares of Cracker Barrel Old Country Store from an outperform rating to a market perform rating and reduced their price target for the company from $190.00 to $170.00 in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $171.54.

Shares of NASDAQ CBRL traded down $4.40 during midday trading on Wednesday, hitting $162.02. 458,100 shares of the company traded hands, compared to its average volume of 380,899. 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. The stock has a 50-day moving average price of $167.23 and a 200 day moving average price of $165.03. The firm has a market cap of $3.92 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 0.59.



Cracker Barrel Old Country Store announced that its board has approved a stock repurchase program on Tuesday, June 4th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the restaurant operator to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, major shareholder Sardar Biglari sold 240,187 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $170.82, for a total transaction of $41,028,743.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,170,879 shares of company stock worth $200,668,080 in the last three months. 0.88% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of CBRL. Meridian Wealth Management LLC bought a new stake in Cracker Barrel Old Country Store during the first quarter worth about $26,000. Adirondack Trust Co. boosted its stake in Cracker Barrel Old Country Store by 104.0% during the first quarter. Adirondack Trust Co. now owns 255 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 130 shares in the last quarter. Enterprise Financial Services Corp boosted its stake in Cracker Barrel Old Country Store by 298.4% during the second quarter. Enterprise Financial Services Corp now owns 255 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 191 shares in the last quarter. Signaturefd LLC boosted its stake in Cracker Barrel Old Country Store by 46.4% during the first quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 98 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new stake in Cracker Barrel Old Country Store during the second quarter worth about $74,000. 85.09% of the stock is currently owned by institutional investors and hedge funds.

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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