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July 23, 2014
11:38 EDTBWLD, RT, DRI, DENN, EATBrinker retreats after analyst downgrades on industry concerns
Shares of casual dining restaurant operator Brinker (EAT) are falling after RBC Capital downgraded the stock in a note to investors today. Brinker owns and franchises the Chili's and Maggiano's chains. WHAT'S NEW: Casual dining trends remain "worrisome" this summer, RBC Capital analyst David Palmer wrote. Data compiled during 2006-2012 show that visits to major casual dining trends by upper class "millennials" fell 12% during the period, while visits by low income millennials tumbled 29% over those six years. Consequently, Palmer expects same-store sales growth for the causal dining sector to remain near 0%. Brinker's new initiatives should enable the company to continue to grow its sales at a faster rate than the industry average, but the initiatives are unlikely to enable the company to generate "outsized" traffic for the company, the analyst contended. On a positive note, Brinker's free cash flow and share repurchases, along with its commitment to cut costs, should prevent the stock from falling too far, according to the analyst. He cut his rating on the shares to Sector Perform from Outperform and reduced his price target on the stock to $49 from $56. OTHERS TO WATCH: Other casual dining names include Darden Restaurants (DRI), Buffalo Wild Wings (BWLD), Denny's (DENN), and Ruby Tuesday (RT). PRICE ACTION: In late morning trading, Brinker dropped 1.3% to $44.55.
News For EAT;DRI;BWLD;DENN;RT From The Last 14 Days
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May 29, 2015
10:28 EDTDRIDeutsche Bank calls McDonald's a top restaurant pick amid turnaround
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10:01 EDTBWLD, DRIOn The Fly: Analyst Initiation Summary
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09:14 EDTDENNDenny's comps tracking ahead of expectations, says Longbow
Longbow's same-store-checks indicates Denny's sales growth is tracking ahead of expectations in Q2. The firm said franchised store sales are tracking to up 4.25%-4.75% vs consensus of 3.1%. Shares are Buy rated with a $15 price target.
06:31 EDTDRIDarden initiated with a Buy at Deutsche Bank
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06:30 EDTBWLDBuffalo Wild Wings initiated with a Hold at Deutsche Bank
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May 26, 2015
10:13 EDTEATHigh option volume stocks
May 21, 2015
11:07 EDTBWLDBuffalo Wild Wings management to meet with Sterne Agee CRT
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07:14 EDTBWLDBMO Capital to hold a conference
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May 18, 2015
17:10 EDTRTRuby Tuesday announces departure of Chief Marketing Officer, John Connelly
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