Miller Tabak Downgrades Cracker Barrel to “Hold” on a Valuation Call (CBRL)

Analysts at Miller Tabak downgraded restaurant operator Cracker Barrel Old Country Store, Inc. (CBRL) on Tuesday, as the current shares price reflects its valuation.

The analysts downgraded CBRL from “Buy” to “Hold” and see shares reaching $81. This target suggests a slight, 1% upside to Monday’s closing price of $79.97.

Miller Tabak analyst Stephen Anderson noted, “We downgrade Cracker Barrel Old Country Store (CBRL) to Hold (from Buy) this morning as the stock neared our $81 price target yesterday. … [I]n light of the 25% year-to-date rally (and the 43% y/y gain) in CBRL shares, we now think CBRL’s current share price reflects continued above-peer comp growth, margin expansion, and reduced interest costs that we estimate will lift EPS in FY14 and beyond.”

Cracker Barrel shares were down 98 cents, or -1.23%, during Tuesday morning trading. The stock is up +38.33% over the past year.

The Bottom Line
Shares of Cracker Barrel (CBRL) have a dividend yield of 2.50% based on last night’s closing price of $79.97 and the company’s annualized dividend payout of $2.00 per share.

Cracker Barrel Old Country Store, Inc. (CBRL) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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