Cracker Barrel Analysts Boost Their Forecasts After Upbeat Q2 Earnings

Core Viewpoint - Cracker Barrel Old Country Store Inc. reported mixed fiscal second-quarter earnings, with a decline in total revenue but better-than-expected adjusted earnings per share [1]. Financial Performance - Total revenue decreased by 7.9% year-over-year to $874.8 million, slightly below the analyst estimate of $876.94 million [1]. - Adjusted earnings per share were $0.25, surpassing the analyst estimate of -$0.22, compared to $1.38 in the same quarter last year [1]. Full-Year Outlook - The company narrowed its full-year adjusted EBITDA outlook to a range of $85 million to $100 million, down from the previous range of $70 million to $110 million [2]. Stock Performance - Following the earnings announcement, Cracker Barrel shares fell by 1% to trade at $30.34 [2]. Analyst Ratings and Price Targets - UBS analyst Dennis Geiger maintained a Neutral rating and raised the price target from $26 to $31 [3]. - Truist Securities analyst Jake Bartlett maintained a Buy rating and increased the price target from $45 to $47 [3]. - Wells Fargo analyst Anthony Trainor maintained an Equal-Weight rating and raised the price target from $30 to $35 [3].