Piper Sandler lowered the firm’s price target on Cracker Barrel to $70 from $75 and keeps a Neutral rating on the shares following quarterly results. Overall, the business continues to be challenged, the firm says, with traffic down 4% in the Restaurant segment and retail same-store sales down 5.3% in the quarter. Said ongoing challenges led to a reduction of Cracker Barrel’s full-year Fiscal 2024 adjusted operating income guidance by about 7% at the mid-point, which led to downward estimate revisions exiting the quarter.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CBRL:
- Cracker Barrel price target lowered to $75 from $82 at UBS
- Cracker Barrel price target raised to $61 from $60 at Citi
- CRACKER BARREL REPORTS SECOND QUARTER FISCAL 2024 RESULTS
- Cracker Barrel raises FY24 revenue view to $3.5B-$3.6B from $3.4B-$3.5B
- Cracker Barrel reports Q2 adjusted EPS $1.37, consensus $1.36
