Benchmark Co. analyst Todd Brooks has maintained their neutral stance on CBRL stock, giving a Hold rating today.
Todd Brooks has given his Hold rating due to a combination of factors impacting Cracker Barrel’s current and future performance. Despite anticipating stronger-than-expected revenue results for the second quarter, Brooks notes a recent industry slowdown and muted same-store sales trends that could affect the company’s growth trajectory. The analyst expresses a desire to see more progress from Cracker Barrel’s strategic repositioning efforts, especially in a challenging consumer environment.
Additionally, Brooks highlights the impact of financial adjustments, such as the upcoming refinancing of convertible debt, which could increase interest expenses in the future. While there are positive developments, such as better-than-expected traffic in January and an updated same-store sales assumption, the overall outlook remains cautious. Therefore, Brooks maintains a Hold rating, reflecting a balanced view of potential risks and opportunities for Cracker Barrel.
According to TipRanks, Brooks is an analyst with an average return of -1.7% and a 38.04% success rate. Brooks covers the Consumer Cyclical sector, focusing on stocks such as BJ’s Restaurants, Cracker Barrel, and Denny’s.
In another report released today, Truist Financial also maintained a Hold rating on the stock with a $51.00 price target.