Cracker Barrel Old Country Store, Inc. (CBRL) is having a surprisingly good Tuesday, with shares climbing as investors position themselves ahead of the restaurant chain's first-quarter earnings report dropping after the closing bell.

What Wall Street Expects: Analysts are forecasting a loss of 68 cents per share on revenue of $802.22 million. That's a pretty significant swing from profitability, and it shows just how bumpy the road has been for the breakfast-and-gift-shop chain.

Last quarter wasn't exactly a home run either. Cracker Barrel reported earnings of 74 cents per share, missing the 80-cent consensus estimate. Revenue came in at $868.01 million, which did beat expectations of $855.29 million, so there's that silver lining.

CEO Julie Masino tried to keep spirits up last quarter, saying, "Looking ahead, there is much to be optimistic about, and our teams are focused on getting back to the momentum we created last fiscal year."

Analysts Adjust Their Aim: Right before earnings, a couple of analysts decided to recalibrate their expectations. UBS analyst Dennis Geiger maintained a Neutral rating but slashed the price target from $48 down to $30. Meanwhile, Truist Securities analyst Jake Bartlett kept a Buy rating but trimmed his target from $58 to $50.

Price Action: Despite the cautious analyst outlooks, CBRL shares are trading about 5.18% higher at approximately $28. Sometimes the market moves in mysterious ways, especially when everyone's waiting to see what the actual numbers look like.