Argus Upgrades Cracker Barrel (CBRL) to Buy

December 1, 2016 8:11 AM EST
Get Alerts CBRL Hot Sheet
Price: $164.43 +1.49%

Rating Summary:
    6 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Argus upgraded Cracker Barrel (NASDAQ: CBRL) from Hold to Buy with a price target of $190.00.

The analyst notes the company has reported higher comp sales for ten consecutive quarters, and they expect its “barbell strategy,” with a dual focus on more expensive menu items and value meals, to result in low single-digit comp growth in FY17.

The firm raising FY17 EPS estimate from $8.12 to $8.30 and our FY18 estimate from $8.70 to $8.88. The firm's long-term earnings growth rate estimate is 11%.

For an analyst ratings summary and ratings history on Cracker Barrel click here. For more ratings news on Cracker Barrel click here.

Shares of Cracker Barrel closed at $162.74 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Upgrades

Related Entities

Argus, Earnings