Why Has Maxim Group Given Cracker Barrel (NASDAQ:CBRL) a $150.00 Price Target
Maxim Group has just issued a Buy rating for Cracker Barrel (NASDAQ:CBRL) shares. The firm have commenced coverage coverage on shares of CBRL in analysts report issued to clients on 9 December. This target price may imply upside of 17.65% from the last price of Cracker Barrel (NASDAQ:CBRL).
From a total of 3 analysts covering Cracker Barrel (NASDAQ:CBRL) stock, 1 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 14% of the ratings are positive. The highest target price is $149 while the lowest target price is $140. The mean of all analyst targets is $143.67 with a 20.00% above today’s ($127.5) stock price. Cracker Barrel was the topic of 6 analyst reports since September 29, 2015 according to the firm StockzIntelligence Inc. Argus Research downgraded shares on November 25 to “Hold” rating. SunTrust initiated CBRL stock in a recent report from October 8 with “Neutral” rating.
The stock closed the day at $127.5 during the previous session. It is down 4.11% since May 6, 2015 and is downtrending. It has underperformed by 3.31% the S&P500.
The overall sentiment of institutions has decreased to 1.05 in Q2 2015. Its down 0.33, from 1.38 in 2015Q2. The ratio worsened, as 46 institutions have sold all the shares of Cracker Barrel Old Country Store, Inc. that they owned while 100 funds have taken shares off the table. 42 funds have purchased shares for the first time while 112 added to their positions. These institutions now hold 30.32 million shares or 47.29% more than the 20.59 million shares they owned in 2015Q2.
The Fund Biglari Capital Corp. currently is holding shares equating to 64.23% of its total portfolio in Cracker Barrel Old Country Store, Inc. representing a total of 4.74 million shares. Another fund,Horrell Capital Management Inc., is holding a total of 26,598 shares equating to 2.49% of their holdings. Additionally, Jlb & Associates Inc has a 45,691 share stake in Cracker Barrel Old Country Store, Inc. which represents 2.17% of their total portfolio. The Fund, Hodges Capital Management Inc., based out of Texas, has also built up a stake in the stock, which represents a total of 1.42% of their total portfolio. Finally Farmers National Bank, a fund which is based in the state of Kentucky reported a total holdings of 11,859 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 $3.05 billion. Each Cracker Barrel store consists of a restaurant with a gift shop. It has 17.97 P/E ratio. The format of its stores consists of a trademarked 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.
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.” Get a free copy of the Zacks research report on Cracker Barrel Old Country Store, Inc. (CBRL).