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CBRL - The Market Is Already Pricing In A Rebound In Cracker Barrel
Cracker Barrel Old Country Store Inc.
Although the fundamentals look great the stock has traded sideways for the past 5 years.
Valuations are getting a bit ahead though, with the company trading at 30x and 16x forward earnings for FY 2021 and 22’ respectively.
The market might be pricing in a return to “normal”, but also it could be pricing in a positive outcome from a recent board room battle with Biglari Capital.
A slow down in growth assumptions could deflate expectations and multiple contraction becomes a risk.