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Cracker Barrel Downgraded to “Market Perform” at Morgan Keegan on Commodity Concerns (CBRL)

By Dividend.com,  June 10, 2011, 08:39:06 AM EDT

Restaurant and retail store operator Cracker Barrel Old Country Store, Inc. ( CBRL ) on Friday saw its shares downgraded by analysts at Morgan Keenan.

The firm said it cut its rating on CBRL from "Outperform" to "Market Perform," noting the company is seeing a sales slowdown. CBRL is also at risk because of rising commodity costs, noted the analyst.

Cracker Barrel shares fell 67 cents, or -1.5%, in premarket trading Friday.

The Bottom Line
Shares of Cracker Barrel ( CBRL ) have a 1.98% dividend yield, based on last night's closing stock price of $44.44. The stock has technical support in the $40 price area. If the shares can firm up, we see overhead resistance around the $48 price level.

Cracker Barrel Old Country Store, Inc. ( CBRL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CBRL



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