Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $20.00 Price Target at Citigroup

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective cut by equities research analysts at Citigroup from $24.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the restaurant operator’s stock. Citigroup’s price objective would indicate a potential downside of 28.38% from the company’s previous close.

CBRL has been the subject of several other reports. Zacks Research raised Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Monday. Bank of America decreased their price target on shares of Cracker Barrel Old Country Store from $48.00 to $42.00 and set an “underperform” rating on the stock in a research note on Thursday, September 18th. UBS Group lowered their price target on shares of Cracker Barrel Old Country Store from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Piper Sandler cut their price objective on shares of Cracker Barrel Old Country Store from $49.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $36.88.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ:CBRL traded up $0.92 during trading on Wednesday, hitting $27.92. 5,077,879 shares of the stock traded hands, compared to its average volume of 1,227,894. The company has a quick ratio of 0.21, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average price of $33.59 and a two-hundred day moving average price of $49.42. Cracker Barrel Old Country Store has a 52-week low of $25.25 and a 52-week high of $71.93. The company has a market cap of $621.87 million, a price-to-earnings ratio of 13.57 and a beta of 1.24.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 EPS for the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. The company had revenue of $845.09 million for the quarter. As a group, equities analysts predict that Cracker Barrel Old Country Store will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp sold 84,700 shares of Cracker Barrel Old Country Store stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $28.15, for a total value of $2,384,305.00. Following the completion of the transaction, the insider owned 2,749,000 shares in the company, valued at approximately $77,384,350. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,879 shares of the restaurant operator’s stock valued at $1,214,000 after buying an additional 311 shares in the last quarter. Parvin Asset Management LLC boosted its position in shares of Cracker Barrel Old Country Store by 4.4% during the 2nd quarter. Parvin Asset Management LLC now owns 8,295 shares of the restaurant operator’s stock worth $507,000 after purchasing an additional 350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Cracker Barrel Old Country Store by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,716 shares of the restaurant operator’s stock valued at $349,000 after purchasing an additional 389 shares in the last quarter. Assetmark Inc. raised its position in Cracker Barrel Old Country Store by 517.3% during the second quarter. Assetmark Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 419 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Cracker Barrel Old Country Store by 7.2% in the third quarter. Arizona State Retirement System now owns 6,258 shares of the restaurant operator’s stock valued at $276,000 after acquiring an additional 419 shares in the last quarter. Hedge funds and other institutional investors own 96.01% 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 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.