Cracker Barrel Old Country Store (NASDAQ:CBRL) Sets New 1-Year Low Following Analyst Downgrade

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) reached a new 52-week low on Friday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $37.05 and last traded at $37.33, with a volume of 690115 shares traded. The stock had previously closed at $38.12.

Several other research analysts have also weighed in on the company. CL King lowered Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Friday, May 17th. Bank of America reduced their target price on Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Citigroup reduced their target price on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, May 31st. Loop Capital reduced their target price on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Finally, Truist Financial reduced their target price on Cracker Barrel Old Country Store from $46.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.29.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its stake in Cracker Barrel Old Country Store by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,416 shares of the restaurant operator’s stock valued at $1,412,000 after purchasing an additional 274 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Cracker Barrel Old Country Store by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock worth $324,000 after buying an additional 306 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 1.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 30,743 shares of the restaurant operator’s stock worth $2,236,000 after buying an additional 368 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 115,605 shares of the restaurant operator’s stock worth $8,408,000 after buying an additional 381 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 200.0% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock worth $25,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Price Performance

The business has a 50 day moving average price of $41.24 and a two-hundred day moving average price of $52.43. The stock has a market cap of $828.80 million, a PE ratio of 14.07, a P/E/G ratio of 1.03 and a beta of 1.43. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.23 and a current ratio of 0.63.

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 restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.