Cracker Barrel Old Country Store (NASDAQ:CBRL) Posts Quarterly Earnings Results, Beats Expectations By $0.74 EPS

Cracker Barrel Old Country Store (NASDAQ:CBRL) released its earnings results on Tuesday. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.45) by $0.74, FiscalAI reports. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The company had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million.

Cracker Barrel Old Country Store Price Performance

Shares of NASDAQ CBRL traded up $2.09 during midday trading on Tuesday, hitting $36.30. The company had a trading volume of 2,646,260 shares, compared to its average volume of 1,212,832. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.90. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $71.93. The business has a 50-day simple moving average of $30.61 and a two-hundred day simple moving average of $29.83. The firm has a market capitalization of $811.31 million, a price-to-earnings ratio of -201.66 and a beta of 1.30.

Institutional Trading of Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently made changes to their positions in CBRL. Alliancebernstein L.P. lifted its stake in shares of Cracker Barrel Old Country Store by 1,068.2% in the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after purchasing an additional 1,117,617 shares during the period. Franklin Resources Inc. lifted its stake in shares of Cracker Barrel Old Country Store by 13,737.1% in the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after purchasing an additional 923,409 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store in the second quarter valued at about $43,930,000. Marshall Wace LLP acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $5,225,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store in the fourth quarter valued at about $3,962,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark restated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Thursday, March 5th. UBS Group raised their target price on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research note on Monday, April 6th. Truist Financial raised their target price on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company raised 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 note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

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.