Cracker Barrel Old Country Store (NASDAQ:CBRL) Sets New 1-Year Low Following Analyst Downgrade

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

Several other research firms have also recently weighed in on CBRL. Citigroup reduced 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 report on Friday, May 31st. CL King cut 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 report on Friday, May 17th. Loop Capital reduced 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 report on Monday, May 20th. Argus cut Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America dropped their target price on Cracker Barrel Old Country Store from $48.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.29.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of large investors have recently made changes to their positions in CBRL. Marshall Wace LLP acquired a new stake in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at $25,636,000. Norges Bank acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at $10,727,000. Verition Fund Management LLC boosted its holdings in shares of Cracker Barrel Old Country Store by 423.9% during the 4th quarter. Verition Fund Management LLC now owns 81,837 shares of the restaurant operator’s stock valued at $6,308,000 after acquiring an additional 66,215 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at $3,854,000. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at $2,909,000. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.23 and a current ratio of 0.63. The company has a market cap of $828.80 million, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.03 and a beta of 1.43. The company has a fifty day moving average of $41.24 and a two-hundred day moving average of $52.43.

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.