Cracker Barrel Old Country Store (NASDAQ:CBRL) Lifted to “Buy” at ValuEngine

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ValuEngine upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a hold rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on CBRL. BidaskClub cut Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research note on Saturday, June 1st. Telsey Advisory Group reiterated an outperform rating and issued a $25.00 price target on shares of American Eagle Outfitters in a research note on Wednesday, June 5th. SunTrust Banks cut Inflarx from a buy rating to a hold rating and cut their price target for the company from $55.00 to $5.00 in a research note on Wednesday, June 5th. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a sell rating to a hold rating in a research note on Thursday, May 23rd. Finally, Maxim Group restated a buy rating and set a $9.00 price objective on shares of Pareteum in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $170.54.

Shares of NASDAQ:CBRL opened at $178.53 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.57 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4.29 billion, a PE ratio of 20.38, a PEG ratio of 1.98 and a beta of 0.58. The stock’s 50 day moving average price is $167.64. Cracker Barrel Old Country Store has a 12-month low of $141.63 and a 12-month high of $185.00.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.02. The business had revenue of $739.60 million during the quarter, compared to analysts’ expectations of $735.15 million. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 earnings per share. On average, analysts forecast that Cracker Barrel Old Country Store will post 9 earnings per share for the current year.

Cracker Barrel Old Country Store declared that its Board of Directors has approved a stock repurchase plan on Tuesday, June 4th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a special dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, July 18th. This represents a yield of 3%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 56.37%.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 2,520 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $169.90, for a total transaction of $428,148.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 1,116,899 shares of company stock valued at $191,482,548. Company insiders own 0.88% of the company’s stock.

Large investors have recently made changes to their positions in the company. Mackay Shields LLC bought a new stake in Cracker Barrel Old Country Store during the fourth quarter valued at $6,624,000. Bank of America Corp DE boosted its position in Cracker Barrel Old Country Store by 21.2% during the fourth quarter. Bank of America Corp DE now owns 69,576 shares of the restaurant operator’s stock valued at $11,122,000 after acquiring an additional 12,159 shares during the last quarter. South Street Advisors LLC boosted its position in Cracker Barrel Old Country Store by 218.2% during the first quarter. South Street Advisors LLC now owns 48,555 shares of the restaurant operator’s stock valued at $7,847,000 after acquiring an additional 33,295 shares during the last quarter. SG Americas Securities LLC boosted its position in Cracker Barrel Old Country Store by 237.1% during the first quarter. SG Americas Securities LLC now owns 3,580 shares of the restaurant operator’s stock valued at $579,000 after acquiring an additional 2,518 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its position in shares of Cracker Barrel Old Country Store by 6.4% during the 1st quarter. Naples Global Advisors LLC now owns 11,218 shares of the restaurant operator’s stock worth $1,813,000 after purchasing an additional 670 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

About Cracker Barrel Old Country Store

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.

Further Reading: Sell-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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