Cracker Barrel Old Country Store (NASDAQ:CBRL) PT raised to $98.00 at Citigroup

Cracker Barrel Old Country Store (NASDAQ:CBRL – Get Note) saw its target price raised by Citigroup analysts from $89.00 to $98.00 in a research report released on Monday, reports The Fly. Citigroup’s target price suggests a potential decline of 12.45% from the current share price.

A number of other stock analysts have also recently weighed in on CBRL. StockNews.com downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a Thursday, June 16 research rating. Deutsche Bank Aktiengesellschaft downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating and lowered its price target for the stock from $109.00 to $100.00 in a research note from Tuesday, August 2. MKM Partners cut its price target on shares of Cracker Barrel Old Country Store from $140.00 to $115.00 and set a “neutral” rating on the stock in a Friday, June 3 research note. Bank of America downgraded shares of Cracker Barrel Old Country Store from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $108.00 to $94.00 in a research note from Monday, June 27. Finally, Truist Financial cut its price target on shares of Cracker Barrel Old Country Store from $104.00 to $94.00 and set a “hold” rating on the stock in a Thursday 23 research note. June. Three analysts rated the stock with a sell rating and six assigned the stock a hold rating. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Hold” and a consensus target price of $107.57.

Cracker Barrel Old Country Store Stock Performance

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NASDAQ:CBRL opened at $111.94 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.63 and a debt ratio of 0.66. The company has a market capitalization of $2.55 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.69 and a beta of 1.26. Cracker Barrel Old Country Store has a fifty-two week low of $81.87 and a fifty-two week high of $149.88. The company’s 50-day moving average is $99.88 and its two-hundred-day moving average is $105.40.

Cracker Barrel Old Country Store announced that its board of directors launched a stock repurchase program on Tuesday, June 7 that allows the company to repurchase $200.00 million of outstanding stock. This repurchase authorization allows the restaurateur to acquire up to 9.9% of its shares through purchases on the open market. Stock buyback programs are often a sign that a company’s board of directors thinks its stock is undervalued.

Institutional investors weigh in on Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently increased or reduced their stake in CBRL. Bank of America Corp DE increased its stake in Cracker Barrel Old Country Store by 55.2% during the 1st quarter. Bank of America Corp DE now owns 869,240 shares of the restaurateur worth $103,205,000 after purchasing an additional 309,186 shares during the period. Wolf Hill Capital Management LP acquired a new stake in Cracker Barrel Old Country Store during Q2 for a valuation of $24,651,000. JPMorgan Chase & Co. increased its stake in Cracker Barrel Old Country Store by 35.3% in Q1. JPMorgan Chase & Co. now owns 596,882 shares of the restaurateur worth $70,868,000 after purchasing an additional 155,837 shares during the period. Millennium Management LLC increased its stake in Cracker Barrel Old Country Store by 1,415.0% during the second quarter. Millennium Management LLC now owns 144,440 shares of the restaurateur worth $12,059,000 after purchasing an additional 134,906 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Cracker Barrel Old Country Store by 57.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 300,899 shares of the restaurateur worth $35,726,000 after purchasing an additional 110,364 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s shares.

About Cracker Barrel Old Country Store

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Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. The company’s Cracker Barrel stores consist of a restaurant with a gift shop. Its restaurants serve breakfast, lunch, and dinner, as well as catering, pickup, and delivery services.

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

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