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NFLX Netflix $303.49 -6.5 (-2.10%) , VAL Valaris $3.99 -0.3 (-6.99%) … 10:08 12/03/19 12/03 10:08 12/03/19 10:08 Downgrade	Fly Intel: Top five analyst downgrades » Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Neutral from Buy with coverage transfer at Citi with analyst Jason Bazinet saying consensus estimates are too high. 2. Valaris (VAL) downgraded to Neutral from Buy at BTIG with analyst Gregory Lewis saying while the offshore recovery is underway, the pace of the recovery has been slower than expected. 3. Ambev (ABEV) downgraded to Underweight from Equal Weight at Barclays with analyst Laurence Whyatt saying he sees "several challenges" for Ambev, particularly in its core Beer Brazil business that he believes are likely to get worse before they can get better. 4. CommScope (COMM) downgraded to Hold from Buy at Jefferies with analyst George Notter saying while he believes that the revenue picture for the overall business is stable and thinks there's some upside to consensus expectations for cost reductions, he believes its "difficult" for the company to get to 4.0 times net leverage in 2021. 5. Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus with analyst John Staszak citing its Q1 earnings miss and a cut in FY20 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. NFLX Netflix $303.49 -6.5 (-2.10%) VAL Valaris $3.99 -0.3 (-6.99%) ABEV Ambev $4.24 -0.005 (-0.12%) COMM CommScope $12.88 -0.48 (-3.59%) CBRL Cracker Barrel $153.77 -3.75 (-2.38%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	03 Dec 03 Dec 09 Dec 09 Dec 10 Dec
CBRL Cracker Barrel $157.52 3.89 (2.53%) 07:45 12/03/19 12/03 07:45 12/03/19 07:45 Downgrade	Cracker Barrel rating change at Argus » Cracker Barrel downgraded… Cracker Barrel downgraded to Hold from Buy at Argus. Argus analyst John Staszak downgraded Cracker Barrel to Hold from Buy after its Q1 earnings miss and a cut in FY20 guidance reported last week. The analyst expects the company's margins and earnings to come under pressure as comps and new store adds slow. Staszak also warns that rising wages and higher input prices should make it difficult for Cracker Barrel to reduce costs in the near term. The analyst cuts his FY20 and FY21 EPS views by $1.13 and $1.20 to $8.75 and $9.50 respectively. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial
CBRL Cracker Barrel $157.52 3.89 (2.53%) 07:27 12/03/19 12/03 07:27 12/03/19 07:27 Downgrade	Cracker Barrel rating change at Argus » Cracker Barrel downgraded… Cracker Barrel downgraded to Hold from Buy at Argus. Argus analyst John Staszak downgraded Cracker Barrel to Hold from Buy. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial
CBRL Cracker Barrel $157.50 2.43 (1.57%) 08:11 11/26/19 11/26 08:11 11/26/19 08:11 Hot Stocks	Cracker Barrel reports Q1 comparable store restaurant sales increased 2.1% » Cracker Barrel comparable… Cracker Barrel comparable store restaurant sales increased 2.1%, as a 3.6% increase in average check offset a 1.5% decrease in comparable store restaurant traffic. The average menu price increase for the quarter was approximately 2.3%. Comparable store retail sales decreased 0.9% from the prior year quarter. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Nov
CBRL Cracker Barrel $157.50 2.43 (1.57%) 08:06 11/26/19 11/26 08:06 11/26/19 08:06 Hot Stocks	Cracker Barrel CEO says 'encouraged by our start to the fiscal year' » Commenting on the first… Commenting on the first quarter results, Cracker Barrel President and CEO Sandra Cochran said, "I'm encouraged by our start to the fiscal year. While we faced headwinds from the softening trend in industry traffic and comparable store sales, I was pleased we again outperformed the casual dining industry, and we delivered solid operating income growth. Additionally, we completed our acquisition of Maple Street Biscuit Company, a strong brand with attractive unit economics and growth potential, which accelerates our penetration in the breakfast and lunch-focused fast casual category. We believe this acquisition and our previously announced strategic relationship with Punch Bowl Social will provide complementary growth vehicles for delivering long-term value creation." 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Nov

CBRL Cracker Barrel $157.50 2.43 (1.57%) 08:05 11/26/19 11/26 08:05 11/26/19 08:05 Hot Stocks	Cracker Barrel sees FY20 CapEx $115M-$125M » Sees FY20 effective tax… Sees FY20 effective tax rate of between 16.0%-17.0%, which assumes a renewal of the Work Opportunity Tax Credit and includes an expected tax benefit from the projected loss from the company's equity method investment in Punch Bowl Social 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Nov
CBRL Cracker Barrel $157.50 2.43 (1.57%) 08:04 11/26/19 11/26 08:04 11/26/19 08:04 Earnings	Cracker Barrel sees FY20 GAAP EPS $8.50-$8.65, consensus $9.50 » This includes an expected… This includes an expected loss from the company's equity method investment in its unconsolidated subsidiary, Punch Bowl Social, resulting in an unfavorable GAAP earnings per diluted share impact of approximately (80c). This estimate includes expenses related to growth such as pre-opening expenses, the expected impact from unit closure expenses, and updated business performance expectations. This also includes transactional and integration expenses related to the Company's acquisition of Maple Street Biscuit Company, which are expected to result in an unfavorable impact to GAAP earnings per diluted share of approximately (15c). Sees FY20 revenue $3.15B-$3.2B, consensus $3.18B. Sees FY20: Cracker Barrel comparable store restaurant sales growth of approximately 2.0%; Cracker Barrel comparable store retail sales growth of approximately 1.0%; Operating income margin of approximately 9.0% as a percent of total revenue. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Nov
CBRL Cracker Barrel $157.50 2.43 (1.57%) 08:01 11/26/19 11/26 08:01 11/26/19 08:01 Earnings	Cracker Barrel reports Q1 GAAP EPS $1.79, consensus $2.06 » Reports Q1 revenue $749M,… Reports Q1 revenue $749M, consensus $755.09M. EPS includes unfavorable impacts to earnings per diluted share for the quarter of (11c) related to transactional and integration expenses associated with the acquisition of Maple Street Biscuit Company and (25c) from the company's equity method investment in its unconsolidated subsidiary Punch Bowl Social. Comparable store restaurant sales growth of 2.1% and traffic of -1.5% outperformed the casual dining industry. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Nov

Over a month ago
CBRL Cracker Barrel $159.50 0.91 (0.57%) 14:01 10/11/19 10/11 14:01 10/11/19 14:01 Hot Stocks	Cracker Barrel acquires Maple Street Biscuit Company for $36M in cash » Cracker Barrel Old… Cracker Barrel Old Country Store announced it has acquired Maple Street Biscuit Company in an all-cash transaction for $36M. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. It currently has 28 company-owned and five franchised fast casual locations across seven states. Maple Street Biscuit Company has targeted AUVs of $1M+ and targeted store-level EBITDA of 17%+ of net sales. The company plans to convert its Holler & Dash Biscuit House units into Maple Street Biscuit Company locations in the coming months. Scott Moore will remain CEO of Maple Street Biscuit Company and will report directly to Sandra B. Cochran, President and CEO of Cracker Barrel. "[Maple Street Biscuit Company] is a proven brand with attractive unit economics and strong growth potential, and it is positioned to become a leader in this category. The acquisition accelerates our penetration in this segment and provides growth for delivering shareholder value. I look forward to working with Scott and his team as we further grow this brand together," said Sandy Cochran. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial
CBRL Cracker Barrel $164.73 -0.23 (-0.14%) 07:52 09/27/19 09/27 07:52 09/27/19 07:52 Initiation	Cracker Barrel initiated at MKM Partners » Cracker Barrel initiated… Cracker Barrel initiated with a Neutral at MKM Partners. As previously reported, MKM Partners analyst Brett Levy initiated Cracker Barrel with a Neutral rating and a price target of $16. The analyst is positive on the company's growth and operations staying "true to the brand's heritage" and leading to "consistent and stable" sales and earnings growth over the years - trends that he expects to continue. Levy notes however that his expectations of a "modest" unit and sales growth, along with Cracker Barrel's current investment phase, warrant its "fairly valued" 17-times forward earnings multiple, which is also near its historical average levels. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial

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