Cracker Barrel Old Country Store (NASDAQ:CBRL) Raised to “Buy” at Truist Financial

Cracker Barrel Old Country Store (NASDAQ:CBRL) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a $55.00 target price on the restaurant operator’s stock, up from their prior target price of $51.00. Truist Financial’s target price indicates a potential upside of 28.44% from the company’s current price.

Several other research analysts also recently commented on the company. StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Sunday, March 2nd. Citigroup raised their price objective on Cracker Barrel Old Country Store from $38.00 to $39.00 and gave the stock a “sell” rating in a report on Friday. Argus upgraded Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, November 18th. UBS Group lifted their price target on Cracker Barrel Old Country Store from $42.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Finally, Loop Capital cut their price target on Cracker Barrel Old Country Store from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.13.

Cracker Barrel Old Country Store Trading Down 1.2 %

CBRL opened at $42.82 on Monday. The stock’s fifty day moving average is $53.73 and its two-hundred day moving average is $49.20. The company has a market capitalization of $953.13 million, a P/E ratio of 23.66, a PEG ratio of 8.36 and a beta of 1.57. Cracker Barrel Old Country Store has a 52 week low of $34.88 and a 52 week high of $74.21. The company has a quick ratio of 0.24, a current ratio of 0.69 and a debt-to-equity ratio of 1.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Cracker Barrel Old Country Store in the third quarter valued at $2,526,000. Cibc World Market Inc. purchased a new position in Cracker Barrel Old Country Store in the fourth quarter valued at $11,711,000. Good Life Advisors LLC acquired a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at $404,000. Charles Schwab Investment Management Inc. raised its stake in Cracker Barrel Old Country Store by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock valued at $48,752,000 after buying an additional 111,892 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at $256,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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 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.