Consumer

Restaurants

The restaurant industry is broad and fragmented due to the diversity of offerings and level of service. While we seek to take a holistic view of the industry, the majority of our coverage is focused on companies in the casual dining segment, though we also follow the quick-service (QSR) segment, family dining segment and quick/fast casual. We believe that key industry trends to watch in the coming quarters and years will include operating cost containment amid unstable commodity prices, consumer sentiment and discretionary spend, a scarcity of strong concept growth, as well as broader macroeconomic indicators.

Analysts:
Will Slabaugh: Bio

Companies

BJ's Restaurants, Inc.Bob Evans Farms, Inc.Bravo Brio Restaurant Group
Buffalo Wild Wings, Inc.Burger King WorldwideCEC Entertainment, Inc.
Cheesecake Factory, TheChuy's Holdings, Inc.Darden Restaurants
Denny's Corp.DineEquity, Inc.Dunkin' Brands Group
Einstein Noah Restaurant GroupFiesta Restaurant GroupKrispy Kreme Doughnuts, Inc.
McDonald's Corp.Red Robin Gourmet BurgersSonic Corporation
Starbucks Corp.Texas Roadhouse, Inc.The Wendy's Co.
Restaurant Valuation Table- QSR, Fast Casual and Other (04/29/2013)
Restaurant Valuation Table - Casual & Family Dining (04/29/2013)
Restaurant Valuation Table-QSR, Fast Casual and Other (04/22/2013)
Restaurant Valuation Table-Casual & Family Dining (04/22/2013)
Restaurant Valuation Table-QSR, Fast Casual and Other (04/15/2013)
Restaurant Valuation Table-Casual & Family Dining (04/15/2013)
Restaurant Valuation Table-Casual & Family Dining (04/01/2013)
Restaurant Valuation Table-QSR, Fast Casual and Other (04/01/2013)
Restaurant Valuation Table- QSR, Fast Casual and Other (03/25/2013)
Restaurant Valuation Table - Casual & Family Dining (03/25/2013)
Morning Brief - Jan 25 2013 (CSH, DLLR, EGHT, ELGX, FFIN, HBHC, HRC, IBKC, OSIS, OZRK, PPC, ROSE, SBUX, SFNC, UCBI, UPI, Restaurants) (01/25/2013)
Headwinds Mount for Casual Dining But Buying Opportunities Emerging (01/25/2013)
Morning Brief - Dec 14 2012 (MHR, TFX, Restaurants) (12/14/2012)
Restaurant Field Trip Takeaways Positive (12/14/2012)
Restaurant Valuation Table-Casual & Family Dining (12/10/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (12/10/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (12/03/2012)
Restaurant Valuation Table-Casual & Family Dining (12/03/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (11/26/2012)
Restaurant Valuation Table-Casual & Family Dining (11/26/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (11/19/2012)
Restaurant Valuation Table- Casual & Family Dining (11/19/2012)
Restaurants: Stephens Quarterly Restaurant Report-3Q12 (11/14/2012)
Restaurant Valuation Table- Casual & Family Dining (11/12/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (11/12/2012)
Restaurant Data Points - October (11/01/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (10/29/2012)
Restaurant Valuation Table-Casual & Family Dining (10/29/2012)
Restaurant Valuation Table - QSR, Fast Casual and Other (10/22/2012)
Restaurant Valuation Table-Casual & Family DIning (10/22/2012)
Restaurant Valuation Table-Casual & Family Dining (10/15/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (10/15/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (10/08/2012)
Restaurant Valuation Table-Casual & Family Dining (10/08/2012)
Restaurant Data Points-September (10/02/2012)
Restaurant Valuation Table- Casual & Family Dining (10/01/2012)
Restaurant Valuation Table- QSR, Fast Casual And Other (10/01/2012)
Restaurant Valuation Table- Casual & Family Dining (09/24/2012)
Restaurant Valuation Table-QSR, Fast Casual And Other (09/24/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (09/17/2012)
Restaurant Valuation Table- Casual & Family Dining (09/17/2012)
Save the Date - Restaurants Investor Plane Trip (09/10/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (09/10/2012)
Restaurant Valuation Table- Casual & Family Dining (09/10/2012)
Restaurant Valuation Table- Casual & Family Dining (09/04/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (09/04/2012)
Restaurant Data Points-August (09/04/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (08/27/2012)
Restaurant Valuation Table- Casual & Family Dining (08/27/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (08/20/2012)
Restaurant Valuation Table- Casual & Family Dining (08/20/2012)
Restaurants: Stephens Quarterly Restaurant Report–2Q12 (08/15/2012)
Morning Brief - Aug 15 2012 (BOBE, ECHO, FLO, FNF, HOMB, JKHY, RUSHA, SFNC, STNR, TFX, XPO, Restaurants) (08/15/2012)
Restaurant Valuation Table- Casual & Family Dining (08/13/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (08/13/2012)
Morning Brief - Aug 9 2012 (CJES, CPE, CXPO, DNB, FTK, HTH, IPAR, MFB, MG, NXTM, OKSB, PODD, SN, THS, Restaurants) (08/09/2012)
Restaurants: Corn’s Frustrating Move & The Restaurant Impact (08/08/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (08/06/2012)
Restaurant Valuation Table- Casual & Family Dining (08/06/2012)
Restaurant Data Points - July (08/02/2012)
Restaurant Valuation Table- Casual & Family Dining (07/30/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (07/30/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (07/23/2012)
Restaurant Valuation Table- Casual & Family Dining (07/23/2012)
Restaurant Valuation Table- Casual & Family Dining (07/16/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (07/16/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (07/09/2012)
Restaurant Valuation Table-Casual & Family Dining (07/09/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (06/25/2012)
Restaurant Valuation Table- Casual and Family Dining (06/25/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (06/18/2012)
Restaurant Valuation Table- Casual & Family Dining (06/18/2012)
Morning Brief - Jun 12 2012 (LSTR, TPX, Restaurants) (06/12/2012)
Despite Current Softness, Casual Dining Could Be Positioned for a 2H12 Recovery (06/12/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (06/11/2012)
Restaurant Valuation Table-Casual & Family Dining (06/11/2012)
Stephens Restaurant Report–A Mixed 1Q12, Sentiment Improving (05/30/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (05/29/2012)
Restaurant Valuation Table-Casual & Family Dining (05/29/2012)
Buy Coffee: Growth in Premium Brands and Specialty Products in the Early Stages (05/22/2012)
Restaurant Valuation Table- Casual & Family Dining (05/21/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (05/21/2012)
Restaurant Valualtion Table- QSR, Fast Casual and Other (05/14/2012)
Restaurant Valuation Table- Casual & Family Dining (05/14/2012)
Restaurant Data Points- April (05/02/2012)
Restaurant Valuation Table- Casual & Family Dining (04/30/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (04/30/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (04/23/2012)
Restaurant Valuation Table- Casual & Family Dining (04/23/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (04/16/2012)
Restaurant Valuation Table- Casual & Family DIning (04/16/2012)
Restaurant Valuation Table- Casual & Family Dining (04/09/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (04/09/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (04/02/2012)
Restaurant Data Points - March (04/02/2012)
Restaurant Valuation Table-Casual & Family Dining (04/02/2012)
Restaurant Valuation Table- Casual & Family Dining (03/26/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (03/26/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (03/19/2012)
Restaurant Valuation Table- Casual & Family Dining (03/19/2012)
Restaurant Valuation Table-Casual & Family Dining (03/12/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (03/12/2012)
Stephens Restaurant Report – An Optimistic 4Q11 (03/07/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (03/05/2012)
Restaurant Valuation Table-Casual & Family Dining (03/05/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (02/27/2012)
Restaurant Valuation Table - Casual & Family Dining (02/27/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (02/21/2012)
Restaurant Valuation Table- Casual & Family Dining (02/21/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (02/13/2012)
Restuarant Valuation Table-Casual & Family Dining (02/13/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (02/06/2012)
Restaurant Valuation Table-Casual & Family Dining (02/06/2012)
Restaurant Valuation Table- Casual & Family Dining (01/30/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (01/30/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (01/23/2012)
Restaurant Valuation Table- Casual & Family Dining (01/23/2012)
Restaurant Valuation Table- Casual & Family Dining (01/17/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (01/17/2012)
Restaurant Valuation Table-Casual & Family Dining (01/09/2012)
Restaurant Valuation Table- QSR, Fast Casual and Other (01/09/2012)
Restaurant Valuation Table- Casual & Family Dining (01/03/2012)
Restaurant Valuation Table-QSR, Fast Casual and Other (01/03/2012)
Restaurant Valuation Table-Casual & Family Dining (12/27/2011)
Restaurant Valuation Table-QSR, Fast Casual and Other (12/27/2011)
Restaurant Valuation Table-QSR, Fast Casual and Other (12/19/2011)
Restaurant Valuation Table-Casual & Family Dining (12/19/2011)
Restaurant Field Trip Takeaways; Share Gainers Distancing Themselves (12/13/2011)
Restaurants-QSR, Fast Casual and Other (12/12/2011)
Restaurants - Casual Dining Valuation Table (12/12/2011)
Restaurants - Casual Dining Valuation Table (12/06/2011)
Restaurants - QSR and Fast Casual Valuation Table (12/06/2011)
Restaurants - Casual Dining Valuation Table (11/21/2011)
Restaurants - QSR and Fast Casual Valuation Table (11/21/2011)
Restaurants - QSR and Fast Casual Valuation Table (11/14/2011)
Restaurants - Casual Dining Valuation Table (11/14/2011)
Restaurants - Casual Dining Valuation Table (10/31/2011)
Restaurants - QSR and Fast Casual Valuation Table (10/31/2011)
End of Year Restaurant Field Trip (10/24/2011)
Restaurants - QSR and Fast Casual Valuation Table (10/24/2011)
Restaurants - Casual Dining Valuation Table (10/24/2011)
Restaurants - Casual Dining Valuation Table (10/17/2011)
Restaurants - QSR & Fast Casual Valuation Table (10/17/2011)
QSR & Other Valuation Table (10/03/2011)
Restaurants – Casual Dining Valuation Table (10/03/2011)
Restaurants to Own in a Slow-Growth, High Inflationary Environment (09/12/2011)
Restaurants Field Trip: Denver, CO (03/10/2011)