KeyBanc Downgrades Cracker Barrel (CBRL) to Hold, Citing Food Inflation Concerns
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Price: $52.35 --0%
Rating Summary:
7 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
Rating Summary:
7 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 1
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KeyBanc downgraded Cracker Barrel (NASDAQ: CBRL) from Buy to Hold.
The firm comments, "In the near term, we believe share appreciation is limited as elevated commodity costs will likely cause estimates to be revised downward. We lowered our FY13 EPS estimate to $4.60 from $4.67 (Street $4.70), because we expect Cracker Barrel's food cost inflation to be toward the high end of the 4-6% guided range during FY13 (July). We continue to have a favorable long-term bias toward the Company as management's sales-building plan should fuel momentum; guest traffic and SRS have been positive the past two quarters."
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 $66.17 yesterday.
The firm comments, "In the near term, we believe share appreciation is limited as elevated commodity costs will likely cause estimates to be revised downward. We lowered our FY13 EPS estimate to $4.60 from $4.67 (Street $4.70), because we expect Cracker Barrel's food cost inflation to be toward the high end of the 4-6% guided range during FY13 (July). We continue to have a favorable long-term bias toward the Company as management's sales-building plan should fuel momentum; guest traffic and SRS have been positive the past two quarters."
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 $66.17 yesterday.
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