Cracker Barrel Old Country Store, Inc. (CBRL) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) from a hold rating to a sell rating in a research report report published on Monday.

According to Zacks, “Cracker Barrel shares have underperformed the industry year to date. It reported lower-than-expected revenues in eight of the trailing nine quarters. Moreover, comps at both restaurants and retail stores have been under pressure due to the challenging sales environment. Consequently, the company also lowered its comps outlook for the full-year fiscal 2017. Nevertheless, going forward, enhanced marketing efforts, differentiated menu offerings, seasonal promotions and the launch of its new fast casual concept, Holler & Dash Biscuit House, could aid in driving sales. Modest expansion efforts and cost-saving initiatives also bode well. Estimates have been stable lately ahead of its fiscal fourth quarter earnings release and the company has positive record of earnings surprises in recent quarters. Still, higher costs are expected to weigh on margins. The company’s limited geographic diversity also remains a cause of concern.”

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Sunday, July 16th. Instinet assumed coverage on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 12th. They set a neutral rating and a $162.00 price target on the stock. Nomura assumed coverage on shares of Cracker Barrel Old Country Store in a research report on Wednesday, July 12th. They set a neutral rating and a $162.00 price target on the stock. Wells Fargo & Company reiterated a market perform rating and set a $156.00 price target (down previously from $157.50) on shares of Cracker Barrel Old Country Store in a research report on Thursday, May 25th. Finally, Maxim Group reiterated a hold rating and set a $170.00 price target on shares of Cracker Barrel Old Country Store in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $164.11.

Cracker Barrel Old Country Store (NASDAQ:CBRL) opened at 144.85 on Monday. The stock has a 50 day moving average of $151.28 and a 200-day moving average of $159.26. The company has a market cap of $3.48 billion, a PE ratio of 17.56 and a beta of 0.52. Cracker Barrel Old Country Store has a 1-year low of $130.15 and a 1-year high of $175.04.

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A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Cracker Barrel Old Country Store by 18,784.9% in the 1st quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock valued at $358,755,000 after purchasing an additional 2,240,854 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cracker Barrel Old Country Store by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,242,652 shares of the restaurant operator’s stock valued at $375,084,000 after purchasing an additional 26,046 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Cracker Barrel Old Country Store by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 906,343 shares of the restaurant operator’s stock valued at $152,421,000 after purchasing an additional 37,551 shares during the last quarter. State Street Corp lifted its stake in Cracker Barrel Old Country Store by 2.9% in the 2nd quarter. State Street Corp now owns 739,419 shares of the restaurant operator’s stock valued at $123,663,000 after purchasing an additional 20,932 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Cracker Barrel Old Country Store by 3.8% in the 2nd quarter. Wells Fargo & Company MN now owns 697,577 shares of the restaurant operator’s stock valued at $116,671,000 after purchasing an additional 25,517 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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

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