Cracker Barrel Shares Rise 7.8% in October
Cracker Barrel shares climbed 7.8% to $55.76 on Oct. 2, near their 52-week high, but valuation measures suggest the stock is trading above estimates of its intrinsic value and well above its five-year median price-to-earnings ratio. Analysts’ overall view remains “Hold,” with an average 12-month price target of $50.86, while ratings range from sell and underperform to buy and strong buy. Recent target increases from Citigroup and UBS were accompanied by sell and neutral ratings, respectively, and Bank of America maintained an underperform rating. The company also declared a quarterly dividend of 25 cents per share, equivalent to an annualized yield of about 1.9%.
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