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UPDATE: Argus Downgrades Cracker Barrel

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In a note released Wednesday, Argus analysts downgraded shares of ,b>Cracker Barrel Old Country Store (NASDAQ: CBRL) from Buy to Hold and removed the $120 price target.

Despite a positive view on Cracker Barrel's theme, location and brand, the team at Argus cautioned that the company is in a slow growing and highly competitive segment.

In terms of share price, the team views the current valuation in the area of $100 as a fair representation of the company's position.

Looking forward, the Argus analysts have reduced their EPS estimates for fiscal 2014 and 2015 from $5.80 and $6.40 to $5.60 and $6.30, respectively.

Following the downgrade, shares of Cracker Barrel are trading down less than two percent.

Latest Ratings for CBRL

DateFirmActionFromTo
Jul 2016Bank of AmericaDowngradesNeutralUnderperform
Jun 2016SunTrust Robinson HumphreyMaintainsNeutral
Apr 2016Longbow ResearchUpgradesNeutralBuy

View More Analyst Ratings for CBRL
View the Latest Analyst Ratings

Posted-In: Argus ResearchAnalyst Color News Downgrades Price Target Analyst Ratings

 

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