Argus downgrades Cracker Barrel to Hold into reinvestment year

Argus downgraded Cracker Barrel to Hold from Buy without a price target. The analyst is concerned about the declining traffic patterns and notes the company’s average unit volume has decreased over the last several quarters. The downgrade reflects the stock’s valuation and expectations that fiscal 2025 will be a reinvestment year for Cracker Barrel, the analyst tells investors in a research note.