Restaurant company Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) became a trending topic in August 2025 for all the wrong reasons. A decision to change the company's logo and store décor saw strong pushback from fans and even saw President Donald Trump share his thoughts on the matter.
The restaurant company eventually reversed course and now 10 months later has the stock trading at a nine-month high and getting closer to the levels from before the controversy began.
Cracker Barrel Stock Rebounds
Cracker Barrel stock is trading higher Thursday after the company beat analyst estimates for revenue and earnings per share in the third quarter, which was reported earlier this week.
Third quarter revenue was down 2.9% year-over-year, but at $797.37 million came in ahead of estimates.
The company also said it was gaining traction and exceeding expectations in recent months.
Cracker Barrel also raised its full-year revenue guidance from a previous range of $3.24 billion to $3.27 billion to a new range of $3.27 billion to $3.30 billion. Analysts expect the company to report full year revenue of $3.25 billion.
The stock is now up 69.3% year-to-date in 2026 with shares hitting their highest level since September.
Shares traded at around $62 in late August ahead of the logo controversy before falling sharply in the coming months and trading under $30 for much of the November to January period.
Analysts Raise Price Targets
Following the recent quarterly financials, analysts are raising their price targets on the stock, but many come in below the current level.
This could mean that analysts see the stock as overvalued and the rebound happening too quickly after the major decline in the share price.
Here are some of the recent analyst ratings and their price targets:
- Bank of America Securities: Maintained an Underperform rating and raised the price target from $31 to $34
- Wells Fargo: Upgraded from Equal-Weight to Overweight, raised price target from $35 to $50
- Citigroup: Maintained Sell rating, raised price target from $28 to $34
- UBS: Maintained Neutral rating, raised price target from $31 to $37
It may take the company another quarter or two to post positive revenue gains on a year-over-year basis, but the most recent quarter shows that things are going better than expected, and traffic is coming back to stores.
CBRL Price Action: Cracker Barrel Old shares were up 2.97% at $45.81 at the time of publication on Thursday, according to Benzinga Pro data.
Image Via Shutterstock
Login to comment