7 Cheap Food Stocks to Buy According to Analysts

3. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Price Target Upside: 18.99% 

Number of Hedge Fund Holders: 17 

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) is a unique American restaurant and retail chain that combines Southern-style dining with a country store experience. The company operates over 660 locations across 45 states, primarily along major highways.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s latest quarterly results missed estimates for both EPS and revenue, despite an overall revenue increase. The total revenue for the quarter reached $895 million, up 6.9% year-over-year, though this was aided by an extra week in the reporting period. Comparable restaurant sales rose by 0.4%, but retail sales fell by 4.2%. The company’s long-term debt is approximately $476 million, with a debt-to-EBITDA ratio of 2.7. For fiscal 2025, Cracker Barrel expects revenue between $3.4 billion and $3.5 billion, indicating slight growth. Analysts believe the stock could be beneficial for long-term investors as the turnaround plan gains momentum.

As of Q2 2024, 17 hedge fund holders held stakes in the stock with Marshall Wace LLP being the largest stakeholder with shares worth $25,635,893 as tracked by the Insider Monkey database. The stock holds a Moderate Sell rating based on 5 Wall Street Analysts. Analysts have set a 12-month price target for Cracker Barrel, with an average target of $41.00. The forecasts range from a high of $45.00 to a low of $36.00, reflecting a projected decrease of 7.95% from the current price of $44.54.