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BJRI

BJ's Restaurants

$34.62

-0.53 (-1.51%)

, BWLD

Buffalo Wild Wings

$139.34

0.68 (0.49%)

08:13
10/14/16
10/14
08:13
10/14/16
08:13

Street estimates too high for casual dining sector in 2017, says Canaccord

Canaccord analyst Lynne Collier lowered same store sales estimates on most of the casual dining sector ahead of Q3 earnings. The analyst said September comps were worse than expected and that sales trends in Q3 were similar to Q2. Collier also believes 2017 will see negative comps as oversupply remains an issue, the inflation gap will continue, and there will be a reduced benefit from lower gasoline prices. As such, the analyst believes Street estimates are too high for the sector for next year. Names in the casual dining space include BJ's Restaurants (BJRI), Buffalo Wild Wings (BWLD), Cheesecake Factory (CAKE), Brinker (EAT), Red Robin (RRGB) and Texas Roadhouse (TXRH).

BJRI

BJ's Restaurants

$34.62

-0.53 (-1.51%)

BWLD

Buffalo Wild Wings

$139.34

0.68 (0.49%)

CAKE

Cheesecake Factory

$51.06

-0.45 (-0.87%)

EAT

Brinker

$49.96

-1.01 (-1.98%)

RRGB

Red Robin

$42.50

-1.1 (-2.52%)

TXRH

Texas Roadhouse

$38.21

-0.17 (-0.44%)

  • 19

    Oct

  • 26

    Oct

  • 26

    Oct

  • 01

    Nov

BJRI BJ's Restaurants
$34.62

-0.53 (-1.51%)

08/23/16
08/23/16
INITIATION

On The Fly: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Talend (TLND) initiated with an Equal Weight at Barclays, a Neutral at Goldman, a Neutral at Citi, a Neutral at JPMorgan, and an Outperform at William Blair. 2. BJ's Restaurants (BJRI), Brinker (EAT), Buffalo Wild Wings (BWLD), Chipotle (CMG), McDonald's (MCD), Cheesecake Factory (CAKE), Fogo De Chao (FOGO) were initiated with a Hold at Canaccord while the firm initiated Dave & Buster's (PLAY) and Panera Bread (PNRA) with a Buy. 3. Valero (VLO) and Marathon Petroleum (MPC) were initiated with a Buy at Jefferies, which also started coverage on Phillips 66 (PSX) with a Hold rating. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/16
WEDB
09/09/16
DOWNGRADE
Target $40
WEDB
Neutral
BJ's Restaurants downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Nick Setyan downgraded BJ's Restaurants to Neutral and lowered his price target to $40 from $47. Checks indicate continued lackluster same-store-sales growth across geographies and a declining marginal benefit from ongoing cost initiatives, Setyan noted. Additionally, the analyst said high consensus estimates are at risk when compared to management's guidance commentary.
07/26/16
07/26/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) and Time Warner (TWX) downgraded to Market Perform from Outperform at FBR Capital with analyst Barton Crocket saying Disney's stock "will struggle to deliver much upside" from current levels. The analyst lowered his price target for the shares to $108 from $111. The analyst downgraded Time Warner citing valuation. 2. Chipotle (CMG) downgraded to Sell from Hold at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 3. Whole Foods (WFM) downgraded to Sell from Neutral at Goldman with analyst Stephen Tanal saying Whole Foods is losing share in its core natural and organic business to a variety of competitors that have raised the bar and driven a consistent deceleration in Whole Foods' same-store-sales and its first negative comps in the fourth quarter of 2016 since 2009. 4. BJ's Restaurants (BJRI) downgraded to Sell from Buy at Stifel with analyst Paul Westra citing the firm's belief that the U.S. economy will probably enter a recession within nine months. 5. Yahoo (YHOO) downgraded to Equal Weight from Overweight at Morgan Stanley with analysts led by Brian Nowak saying shares going forward will solely be viewed as a trading vehicle for its 15% Alibaba (BABA) stake with the investment thesis related to shares closing the estimated 39% liquidity discount to fair market value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/22/16
ADAM
08/22/16
INITIATION
Target $43
ADAM
Hold
BJ's Restaurants initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated coverage of BJ's Restaurants with a Hold rating and $43 price target.
BWLD Buffalo Wild Wings
$139.34

0.68 (0.49%)

08/22/16
ADAM
08/22/16
INITIATION
Target $175
ADAM
Hold
Buffalo Wild Wings initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated Buffalo Wild Wings with a Hold rating and $175 price target.
08/19/16
08/19/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Buffalo Wild Wings (BWLD) downgraded to Underperform from Neutral at Longbow. 2. AK Steel (AKS) downgraded to Underweight from Sector Weight at KeyBanc with analyst Philip Gibbs saying he's incrementally cautious on U.S. carbon sheet market outlook due to slowing demand and fourth quarter supply risks. 3. SunEdison Semiconductor (SEMI) downgraded to Hold from Buy at Deutsche Bank and to Market Perform at Wells Fargo. 4. Juniper Pharma (JNP) downgraded to Market Perform from Outperform at Northland and to Neutral from Buy at H.C. Wainwright. 5. Cardtronics (CATM) downgraded to Neutral from Overweight at JPMorgan with analyst Reginald Smith citing valuation with the stock up 38% year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/19/16
LBOW
08/19/16
DOWNGRADE
LBOW
Underperform
Buffalo Wild Wings downgraded to Underperform from Neutral at Longbow
CAKE Cheesecake Factory
$51.06

-0.45 (-0.87%)

08/22/16
ADAM
08/22/16
INITIATION
Target $54
ADAM
Hold
Cheesecake Factory initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated Cheesecake Factory with a Hold rating and $54 price target.
04/28/16
SPHN
04/28/16
NO CHANGE
Target $58
SPHN
Overweight
Cheesecake Factory set up to outperform peers, says Stephens
Stephens analyst Will Slabaugh continues to believe Cheesecake Factory is set up to outperform peers given a profile of steady same-store sales growth, increasing international franchised growth and aggressive shareholder return profile. The company reported solid Q1 results, particularly given the current backdrop in casual dining, the analyst tells investors in a research note. Slabaugh reiterates an Overweight rating and $58 price target on the shares.
07/26/16
STFL
07/26/16
DOWNGRADE
STFL
Sell
Cheesecake Factory downgraded to Sell from Buy at Stifel
Stifel analyst Paul Westra downgraded Cheesecake Factory based on the firm's belief that the U.S. economy will probably enter a recession within nine months. As a result, the firm now expects two year industrywide comps to come in at 0.5% in the first half of 2018, versus the consensus outlook of 1.75%, Westra stated. The analyst says that Cheesecake Factory's stock tends to be highly leveraged to the U.S. economy. Target to $43 from $65.
EAT Brinker
$49.96

-1.01 (-1.98%)

08/22/16
ADAM
08/22/16
INITIATION
Target $56
ADAM
Hold
Brinker initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated Brinker with a Hold rating and $56 price target.
08/08/16
OTRG
08/08/16
DOWNGRADE
OTRG
Negative
Brinker downgraded to Negative from Mixed at OTR Global
07/08/16
ADAM
07/08/16
NO CHANGE
ADAM
Casual dining checks point to significant deceleration in June, says Canaccord
Canaccord analyst Lynne Collier said the firm's checks indicate a material decline in sales and traffic trends in casual dining restaurants was seen in June. Among the reasons for the slowdown, Collier points to the reversal in gasoline prices, consumers eating at home and the uncertain political environment. The analyst projects same-store sales for the casual dining segment will decline 2%-2.5% in June. Publicly traded companies that own casual dining brands include Darden (DRI), Ruby Tuesday (RT), Bloomin' Brands (BLMN), DineEquity (DIN), Denny's (DENN), Brinker (EAT) and Buffalo Wild Wings (BWLD).
RRGB Red Robin
$42.50

-1.1 (-2.52%)

09/13/16
09/13/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Underperform from Neutral at Macquarie with analyst Tim Nollen saying market penetration could be limited given new streaming video on demand competitors and local operator's streaming efforts. 2. Intuit (INTU) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Keith Weiss citing full valuation. 3. Applied Genetic (AGTC) downgraded to Market Perform from Outperform at Wells Fargo, to Sell from Buy at Janney Capital, to Hold from Buy at Cantor, and to Neutral from Buy at Roth Capital. 4. Signet Jewelers (SIG) downgraded to Market Perform from Outperform at Cowen with analyst Oliver Chen saying he believes shares will be range bound despite the stock's cheap valuation. 5. Red Robin (RRGB) downgraded to Underperform from Buy at BofA/Merrill with the firm citing the difficult casual dining environment, lack of near-term catalysts, and risk to third quarter earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/13/16
BOFA
09/13/16
DOWNGRADE
Target $50
BOFA
Underperform
Red Robin downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill downgraded Red Robin two notches to Underperform from Buy and lowered its price target to $50 from $60 citing the difficult casual dining environment, lack of near-term catalysts, and risk to Q3 earnings. The firm's analyst expects Q3 comps to be down 2.5%, versus guidance of approximately down 2%, due to weak box office traffic and continued softness in casual dining sales.
08/22/16
ADAM
08/22/16
INITIATION
Target $53
ADAM
Hold
Red Robin initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated Red Robin with a Hold rating and $53 price target.
08/08/16
STPT
08/08/16
INITIATION
Target $64
STPT
Buy
Red Robin initiated with a Buy at Standpoint Research
Target $64.
TXRH Texas Roadhouse
$38.21

-0.17 (-0.44%)

09/29/16
KEYB
09/29/16
DOWNGRADE
KEYB
Sector Weight
Texas Roadhouse downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Chris O'Cull downgraded Texas Roadhouse to Sector Weight saying the company's same-restaurant-sales could be challenging in the current consumer spending environment. Further, the analyst believes the company will take less price raises despite higher labor costs from the new Department of Labor ruling.
07/26/16
STFL
07/26/16
DOWNGRADE
STFL
Hold
Texas Roadhouse downgraded to Hold from Buy at Stifel
Stifel analyst Paul Westra downgraded Texas Roadhouse based on the firm's belief that the U.S. economy will probably enter a recession within nine months. As a result, the firm now expects two year industrywide comps to come in at 0.5% in the first half of 2018, versus the consensus outlook of 1.75%, Westra stated.
07/26/16
TLSY
07/26/16
DOWNGRADE
TLSY
Market Perform
Texas Roadhouse downgraded to Market Perform from Outperform at Telsey Advisory
08/22/16
ADAM
08/22/16
INITIATION
Target $48
ADAM
Hold
Texas Roadhouse initiated with a Hold at Canaccord
Canaccord analyst Lynne Collier initiated Texas Roadhouse with a Hold rating and $48 price target.

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