Cracker Barrel Old Country Store (NASDAQ:CBRL) Sets New 12-Month Low Following Analyst Downgrade

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s stock price reached a new 52-week low during mid-day trading on Friday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $37.05 and last traded at $37.33, with a volume of 690115 shares trading hands. The stock had previously closed at $38.12.

CBRL has been the subject of several other reports. Benchmark raised Cracker Barrel Old Country Store to a “hold” rating in a research note on Monday, June 3rd. Citigroup lowered their price objective on Cracker Barrel Old Country Store from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Friday, May 31st. Loop Capital lowered their price objective on Cracker Barrel Old Country Store from $72.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Bank of America lowered their price objective on Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, CL King lowered Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.29.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. increased its holdings in Cracker Barrel Old Country Store by 63.7% during the 4th quarter. Pinebridge Investments L.P. now owns 17,794 shares of the restaurant operator’s stock worth $1,371,000 after purchasing an additional 6,925 shares during the period. International Assets Investment Management LLC bought a new stake in Cracker Barrel Old Country Store during the 4th quarter valued at $2,935,000. Future Financial Wealth Managment LLC bought a new stake in Cracker Barrel Old Country Store during the 1st quarter valued at $73,000. Duality Advisers LP raised its position in Cracker Barrel Old Country Store by 196.5% during the 1st quarter. Duality Advisers LP now owns 50,928 shares of the restaurant operator’s stock valued at $3,704,000 after purchasing an additional 33,751 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Cracker Barrel Old Country Store by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,451 shares of the restaurant operator’s stock valued at $324,000 after purchasing an additional 306 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Cracker Barrel Old Country Store Trading Down 2.1 %

The company has a current ratio of 0.63, a quick ratio of 0.23 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $41.14 and a two-hundred day simple moving average of $52.20. The firm has a market capitalization of $828.80 million, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43.

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.