Zacks Investment Research lowered shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) from a hold rating to a sell rating in a report released 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.”

Several other analysts have also commented on the stock. BidaskClub raised shares of Cracker Barrel Old Country Store from a hold rating to a buy rating in a research report on Friday, June 30th. Instinet began 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 began 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 reaffirmed 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 reaffirmed 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 given a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $163.22.

Shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) opened at 149.02 on Monday. Cracker Barrel Old Country Store has a 52 week low of $130.15 and a 52 week high of $175.04. The company has a market capitalization of $3.58 billion, a PE ratio of 18.06 and a beta of 0.52. The firm’s 50-day moving average price is $150.38 and its 200 day moving average price is $158.92.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The business had revenue of $743.20 million for the quarter, compared to analyst estimates of $746.72 million. During the same period last year, the company posted $2.12 EPS. The business’s revenue was down .3% on a year-over-year basis. Equities analysts predict that Cracker Barrel Old Country Store will post $8.86 EPS for the current year.

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Several large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Cracker Barrel Old Country Store by 18,784.9% in the first quarter. BlackRock Inc. now owns 2,252,783 shares of the restaurant operator’s stock worth $358,755,000 after acquiring an additional 2,240,854 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cracker Barrel Old Country Store by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,242,652 shares of the restaurant operator’s stock worth $375,084,000 after acquiring an additional 26,046 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cracker Barrel Old Country Store by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 906,343 shares of the restaurant operator’s stock worth $152,421,000 after acquiring an additional 37,551 shares in the last quarter. State Street Corp grew its stake in shares of Cracker Barrel Old Country Store by 2.9% in the second quarter. State Street Corp now owns 739,419 shares of the restaurant operator’s stock worth $123,663,000 after acquiring an additional 20,932 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Cracker Barrel Old Country Store by 3.8% in the second quarter. Wells Fargo & Company MN now owns 697,577 shares of the restaurant operator’s stock worth $116,671,000 after acquiring an additional 25,517 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

About Cracker Barrel Old Country Store

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.

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

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