Piper Sandler Maintains Neutral Rating for Cracker Barrel Old: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of Cracker Barrel Old CBRL and lower its price target from $96.00 to $75.00.

Shares of Cracker Barrel Old are trading down 0.5% over the last 24 hours, at $72.00 per share.

A move to $75.00 would account for a 4.17% increase from the current share price.

About Cracker Barrel Old

Cracker Barrel Old Country Store Inc operates hundreds of full-service restaurants throughout the United States. Its restaurants are open for breakfast, lunch, and dinner, with menus that offer home-style country food. Cracker Barrel's biggest input costs are beef, dairy, fruits and vegetables, pork, and poultry. The company purchases its food products from a few different vendors on a cost-plus basis. All restaurants are located in freestanding buildings and include gift shops, which contribute roughly one fourth of total company revenue. Apparel and accessories are the company's biggest revenue generators in the retail segment of the business.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.