MKM Partners Trims Cracker Barrel Old Country Store (NASDAQ:CBRL) Target Price to $155.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price cut by research analysts at MKM Partners from $165.00 to $155.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. MKM Partners’ target price indicates a potential upside of 14.57% from the stock’s previous close.

CBRL has been the subject of several other research reports. Truist increased their price objective on shares of Cracker Barrel Old Country Store from $171.00 to $178.00 and gave the company a “hold” rating in a report on Friday, June 18th. Wells Fargo & Company lowered their price target on shares of Cracker Barrel Old Country Store from $164.00 to $137.00 and set an “underweight” rating for the company in a report on Wednesday, September 8th. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “strong-buy” rating and set a $185.00 price target for the company in a report on Friday, May 28th. Finally, Truist Securities lowered their price target on shares of Cracker Barrel Old Country Store from $178.00 to $159.00 and set a “hold” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $168.10.

CBRL opened at $135.29 on Wednesday. The firm has a 50-day simple moving average of $139.47 and a two-hundred day simple moving average of $154.00. Cracker Barrel Old Country Store has a 52 week low of $106.92 and a 52 week high of $178.82. The company has a market capitalization of $3.21 billion, a PE ratio of 13.22 and a beta of 1.51. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.89.

Several large investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Cracker Barrel Old Country Store during the second quarter worth approximately $2,464,000. Morgan Stanley increased its position in shares of Cracker Barrel Old Country Store by 3.4% during the second quarter. Morgan Stanley now owns 119,053 shares of the restaurant operator’s stock worth $17,676,000 after acquiring an additional 3,876 shares during the period. Jefferies Group LLC purchased a new position in shares of Cracker Barrel Old Country Store during the second quarter worth approximately $687,000. Invesco Ltd. increased its holdings in Cracker Barrel Old Country Store by 840.6% during the second quarter. Invesco Ltd. now owns 315,968 shares of the restaurant operator’s stock valued at $46,909,000 after buying an additional 282,377 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its holdings in Cracker Barrel Old Country Store by 103,880.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 10,398 shares of the restaurant operator’s stock valued at $1,544,000 after buying an additional 10,388 shares during the period. 88.38% 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 engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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

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