Cracker Barrel (CBRL) stock has had a stunning run in 2026, climbing 84% to trade near $54.69. But despite the rally, several analysts and major institutional investors are hitting the brakes.
Cracker Barrel Old Country Store, CBRL
Wellington Management Group cut its position in CBRL by 73.3% during Q2, selling 827,185 shares and holding just 301,136, worth around $16.1 million. That’s a major vote of no confidence from one of the company’s larger institutional holders.
The backdrop to the stock’s rise is messy. In August 2025, Cracker Barrel removed its iconic barrel-leaning figure from its logo, sparking a public backlash. The company reversed course within a week, but the damage was done.
Retail same-store sales dropped 8.5% in the August-to-October 2025 period. The stock ended last year well below where it started.
Fast forward to 2026, and things look steadier. Foot traffic data from Placer.ai shows year-over-year visit declines have narrowed from double digits late last year to low single digits in July and August 2026.
Analyst R.J. Hottovy at Placer.ai notes those declines are now roughly in line with the broader full-service restaurant category, suggesting the rebrand fallout has mostly faded.
On the earnings front, CBRL beat expectations in its most recent quarter. The company reported EPS of $0.29 against a consensus estimate of a $0.45 loss. Revenue came in at $797.37 million, topping the $776.69 million estimate, though it was still down 2.9% from the same period last year.
Net margin sat at just 0.79%, and the company’s return on equity was 2.78%. For the full fiscal year, analysts expect EPS of just $0.07.
The average analyst price target sits at $48.14, well below the current stock price. That means even the consensus view implies downside from here.
Citigroup has a “sell” rating with a price target of $42. Piper Sandler is neutral at $51. Benchmark holds a “hold” rating. Zacks recently upgraded to “strong buy,” and two other analysts also carry “strong buy” or “buy” ratings.
The stock carries a PE ratio of 47.15 and a beta of 1.19.
In a notable leadership move, the company replaced CEO Julie Massino with David Deno, the former head of Bloomin’ Brands. Wells Fargo analyst Anthony Trainor says the appointment should help drive a new narrative for the stock.
The company faces real headwinds, though. Its core customer base skews older, gas prices are rising, food costs are up, and its middle-income audience is feeling the squeeze.
Earnings are scheduled for September 23. Analysts expect investors to focus on what Cracker Barrel is doing to attract younger customers while holding onto its existing base.
The stock’s 50-day moving average is $54.87. Its 200-day moving average is $40.49, reflecting just how far and fast CBRL has moved this year.
The post Cracker Barrel (CBRL) Stock Up 84% in 2026 But Analysts Say It’s Time to Sell appeared first on CoinCentral.
