Published On: Wed, Sep 14th, 2016

Cracker Barrel Old Country Store Inc. (CBRL) Updates FY17 Earnings Guidance

Cracker Barrel Old Country Store Inc. (NASDAQ:CBRL) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.95-8.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.32. The company issued revenue guidance of $2.95-3.00 billion, compared to the consensus revenue estimate of $3.01 billion.Cracker Barrel Old Country Store also updated its Q1 guidance to $1.75-1.85 EPS.
Cracker Barrel Old Country Store Inc. (NASDAQ:CBRL) opened at 150.53 on Wednesday. Cracker Barrel Old Country Store Inc. has a 52 week low of $118.01 and a 52 week high of $172.89. The firm has a 50-day moving average of $156.26 and a 200-day moving average of $155.73. The company has a market capitalization of $3.60 billion, a PE ratio of 19.50 and a beta of 0.38.
Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 14th. The company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.13 by $0.01. Cracker Barrel Old Country Store had a return on equity of 32.27% and a net margin of 6.43%. The business earned $745.60 million during the quarter, compared to analyst estimates of $742.34 million. During the same quarter last year, the firm earned $1.97 EPS. Cracker Barrel Old Country Store’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts expect that Cracker Barrel Old Country Store Inc. will post $7.55 earnings per share for the current fiscal year.

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CBRL has been the subject of several analyst reports. Maxim Group dropped their price objective on shares of Cracker Barrel Old Country Store from $178.00 to $170.00 and set a buy rating for the company in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a hold rating to a buy rating and set a $186.00 price objective for the company in a research note on Friday, June 3rd. Telsey Advisory Group cut shares of Cracker Barrel Old Country Store from an outperform rating to a market perform rating and lifted their price objective for the stock from $160.00 to $172.00 in a research note on Thursday, June 2nd. SunTrust Banks Inc. lifted their price objective on shares of Cracker Barrel Old Country Store from $151.00 to $152.00 and gave the stock a neutral rating in a research note on Thursday, June 2nd. Finally, Bank of America Corp. cut shares of Cracker Barrel Old Country Store from a neutral rating to an underperform rating and set a $140.00 price objective for the company. in a research note on Monday, July 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Cracker Barrel Old Country Store has a consensus rating of Hold and an average target price of $165.83.
In related news, VP Laura A. Daily sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $168.75, for a total transaction of $101,250.00. Following the completion of the transaction, the vice president now directly owns 6,221 shares in the company, valued at approximately $1,049,793.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CBRL. FMR LLC boosted its position in Cracker Barrel Old Country Store by 28.8% in the second quarter. FMR LLC now owns 366,455 shares of the company’s stock worth $62,836,000 after buying an additional 81,955 shares in the last quarter. BlackRock Fund Advisors boosted its position in Cracker Barrel Old Country Store by 5.5% in the second quarter. BlackRock Fund Advisors now owns 1,112,755 shares of the company’s stock worth $190,804,000 after buying an additional 57,987 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Cracker Barrel Old Country Store during the second quarter worth about $7,305,000. Allianz Asset Management AG boosted its position in Cracker Barrel Old Country Store by 14.9% in the second quarter. Allianz Asset Management AG now owns 230,384 shares of the company’s stock worth $39,504,000 after buying an additional 29,859 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Cracker Barrel Old Country Store during the second quarter worth about $2,229,000. Institutional investors and hedge funds own 86.96% 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). Each Cracker Barrel store consists of a restaurant with a gift shop. 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.

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