CBRL - Cracker Barrel falls after Sidoti heads to the sidelines

Sidoti cuts Cracker Barrel Old Country Store ([[CBRL]] -2.3%) to a Neutral rating after having the restaurant stock slotted at Buy."We still expect a robust sales recovery highlighted by relatively easy year-over-year sales comparisons beginning in 3Q:F21 (April). However, we contend the stock now fairly reflects our current growth outlook. We also have been positive on the stock based on the potential for CBRL to reap margin benefits from incremental cost savings," updates analyst Stephen Anderson.The firm lowers its FQ3 EPS estimate to factor in some  additional labor costs tied to the opening of additional dining room space, although the FY22 EPS estimate of $8.98 is held steady, as is the price target of $180.Read what CBRL execs said about near-term costs during the earnings call.

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Cracker Barrel falls after Sidoti heads to the sidelines