Restaurants Research

Title Tickers Date
JACK: Jack in the Box - No Longer A Seller’s Market – But If JACK Were to be Acquired, We See a 14-15x EBITDA Multiple JACK 2018-12-17
DRI: Darden Restaurants - F2Q Likely to Offer Few Surprises; We See Near-Peak Valuation as Hard to Hold with Sizeable EPS Growth Deceleration Lurking DRI 2018-12-13
PLAY: Dave & Buster's - NT SSS Recovery Prospects Increasingly Murky; But at Less Than 7.5x a Lowered ‘19E EBITDA, After Hours Sell Off Is Overdone PLAY 2018-12-11
PLAY: Dave & Buster's - Expect F3Q SSS to Fall Short of Street & FY18 Guidance Revision; SSS Recovery Jury to Remain Out Through January 2019 (ICR) PLAY 2018-12-06
Labor - Everything You Need to Know About Labor Cost Inflation & Company Exposure Heading into 2019 2018-12-03
JACK: Jack in the Box - Is Jack on the Value Menu? A Comparison of the Company’s Key Fundamentals vs. the Franchise Peer Group (including SONC) JACK 2018-11-29
CBRL: Cracker Barrel - Downgrading to Underperform: Valuation & Recent Share Price Run Are Both Outpacing FY19E/FY20E Fundamental Prospects CBRL 2018-11-28
CBRL: Cracker Barrel - F1Q19 First Look: Strong Topline Performance Muted by Lowered FY19 Operating Margin Guidance CBRL 2018-11-27
JACK: Jack in the Box - F4Q18: Quick Hits from the Earnings Call. JACK Shares in Limbo with Weak Fundamentals Squaring With Potential Activist Catalysts JACK 2018-11-23
JACK: Jack in the Box - F4Q First Look: FY18 Finishes Soft, but FY19 Guidance Intro Meets Low Bar. Activist Headlines Represent Healthy Valuation Backstop JACK 2018-11-23
Model Cleanup Post 3Q18 Earnings - Model Cleanup: BJRI, BLMN, CMG & MCD 2018-11-16
GHRA ROIC Quarterly: Taking Stock of Value Creation - Tax Reform Has Driven Improved ROIC Across the Board – Looking Forward, We Expect WING, CMG & WEN Deliver Further Expansion 2018-11-16
WING: Wingstop - WING Continues to Flex Business Model Muscle: $3.05 Special Dividend Announced as Expected WING 2018-11-14
MCD: McDonald's - MCD Further Flexing Mobile Muscle: App Use Stats Continue to Materially Outpace Peer Group, on Absolute & Per Restaurant Basis MCD 2018-11-12
WING: Wingstop - WING’s International Unit Development: Already Unrivaled vs. Peers, Gaining Momentum and a Sizeable Value Creation Driver WING 2018-11-08
WEN: Wendy's - 3Q18: Quick Hits from Earnings Call & Management Follow-up; Jury Out on SSS Quick Fix, But FCF Story Largely Intact WEN 2018-11-07
RRGB: Red Robin - 3Q: Quick Hits from Earnings & Management Follow Up Calls – No Quick Fixes; We See RRGB Finding Valuation Support at 5x EBITDA RRGB 2018-11-06
WEN: Wendy's - First Look: 3Q SSS (-0.2%) Fall Well Below +0.5% to +1% Whisper; What Happened and What Does this Mean for 2020 Targets? WEN 2018-11-06
WING: Wingstop - Adjusting Estimates in Anticipation of Debt Refinancing and Special Dividend Payment WING 2018-11-01
YUM: Yum! Brands - Earnings Call Quick Hits: TB Keeps Rolling, PH International Woes Long Tailed, GrubHub Fair-Value Benefit Looks to Reverse in 4Q18 YUM 2018-10-31

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