Rating Worth Watching: Is Maxim Group Very Negative For Cracker Barrel (NASDAQ:CBRL) After Its Downgrade? The Target is $170.00

November 28, 2016 - By Marguerite Chambers

Rating Worth Watching:  Is Maxim Group Very Negative For Cracker Barrel (NASDAQ:CBRL) After Its Downgrade? The Target is $170.00

Cracker Barrel (NASDAQ:CBRL) Downgrade

New York-listed Cracker Barrel (NASDAQ:CBRL), was cut by research professionals at Maxim Group. Maxim Group cut its rating on the $3.87 billion market cap company to a “Hold” from a previous “Buy”, but maintained its target price per share of $170.00 on CBRL shares.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Ratings Coverage

Out of 7 analysts covering Cracker Barrel (NASDAQ:CBRL), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $170 is the highest target while $142 is the lowest. The $164 average target is 0.97% above today’s ($162.43) stock price. Cracker Barrel has been the topic of 20 analyst reports since September 29, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, January 26 by SunTrust. Maxim Group maintained the shares of CBRL in a report on Thursday, September 15 with “Buy” rating. The firm has “Market Perform” rating given on Tuesday, September 29 by Telsey Advisory Group. The stock of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has “Neutral” rating given on Thursday, October 8 by SunTrust. Maxim Group initiated Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) rating on Wednesday, December 9. Maxim Group has “Buy” rating and $150 price target. Telsey Advisory Group maintained Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) on Thursday, September 15 with “Market Perform” rating. Argus Research downgraded the shares of CBRL in a report on Wednesday, November 25 to “Hold” rating. On Monday, February 22 the stock rating was upgraded by Telsey Advisory Group to “Outperform”. On Tuesday, November 15 the stock rating was maintained by Maxim Group with “Buy”. Suntrust Robinson downgraded the shares of CBRL in a report on Wednesday, February 24 to “Neutral” rating.

About 234,604 shares traded hands. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has risen 10.88% since April 25, 2016 and is uptrending. It has outperformed by 4.87% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 0.96 in 2016 Q2. Its down 0.21, from 1.17 in 2016Q1. The ratio fall, as 27 funds sold all Cracker Barrel Old Country Store, Inc. shares owned while 98 reduced positions. 47 funds bought stakes while 99 increased positions. They now own 20.00 million shares or 0.19% less from 20.03 million shares in 2016Q1.

Virginia Retirement Et Al holds 0.09% or 37,600 shares in its portfolio. Lord Abbett Limited Liability last reported 42,600 shares in the company. Tiaa Cref Mngmt Limited Liability last reported 0.01% of its portfolio in the stock. Shell Asset Mngmt accumulated 10,852 shares or 0.04% of the stock. Toronto Dominion Natl Bank holds 0% of its portfolio in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) for 5 shares. Pnc Financial Gp Incorporated reported 10,852 shares or 0% of all its holdings. Marco Invest Management Limited Liability Company has 0.21% invested in the company for 6,730 shares. Eaton Vance Mngmt last reported 0% of its portfolio in the stock. Moreover, Fmr Ltd Limited Liability Company has 0.01% invested in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) for 366,455 shares. Catawba Cap Va accumulated 0.3% or 7,145 shares. Eastern Bancshares holds 0.03% of its portfolio in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) for 1,827 shares. M&T National Bank & Trust last reported 1,545 shares in the company. Gerstein Fisher accumulated 0.38% or 17,003 shares. Sheets Smith Wealth Management has invested 0.25% of its portfolio in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL). Commonwealth Of Pennsylvania School Empls Retrmt holds 0.01% of its portfolio in Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) for 4,608 shares.

Cracker Barrel Old Country Store, Inc. is engaged in the operation and development of the Cracker Barrel Old Country Store concept . The company has a market cap of $3.87 billion. The Company’s divisions include Restaurant and Retail. It has a 19.88 P/E ratio. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states.

According to Zacks Investment Research, “Cracker Barrel Old Country Store, Inc., formerly CBRL Group, Inc., is principally engaged in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept. The format of Cracker Barrel stores consists of a rustic, old country-store design with a separate retail area offering a variety of decorative and functional items featuring rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods, including various old fashioned candies and jellies.”

CBRL Company Profile

Cracker Barrel Old Country Store, Inc., incorporated on October 16, 1969, is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s divisions 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. The Company’s restaurants offer home-style country cooking featuring of its own recipes. The Company’s restaurants serve breakfast, lunch and dinner. The Company’s breakfast items include juices, eggs, pancakes, fruit and yogurt parfaits, pork and turkey bacon, country ham, sausage, grits, and a range of biscuit specialties, such as gravy and biscuits and country ham and biscuits. The Company’s Lunch and dinner items include country ham, chicken and dumplings, chicken fried chicken, meatloaf, country fried steak, pork chops, fish, steak, roast beef, vegetable plates, a range of salads, sandwiches, soups, fresh side items and specialty items, such as pinto beans and turnip greens.

More notable recent Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) news were published by: Nasdaq.com which released: “Cracker Barrel Old Country Store Reaches Analyst Target Price” on November 23, 2016, also Prnewswire.com with their article: “Cracker Barrel Old Country Store® Introduces New Heat n’ Serve Holiday Family …” published on November 10, 2016, Reuters.com published: “BRIEF-Cracker Barrel Old Country Store Inc reports Q1 EPS of $2.01” on November 22, 2016. More interesting news about Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) were released by: Forbes.com and their article: “Ex-Dividend Reminder: Cracker Barrel Old Country Store, Foot Locker and Yum …” published on July 11, 2016 as well as Prnewswire.com‘s news article titled: “Amy Grant and Cracker Barrel Old Country Store® Bring Home the Holidays with …” with publication date: October 20, 2016.

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