Posts for Ticker ‘PFCB’

Food Investor Alert: Fat & Calorie Displays At Food Chains (MCD, YUM, BWLD, CAKE, PFCB, RRGB, EAT, BKC, WEN, TXRH, SONC, CPKI)

If you like to invest in food chain restaurants, Thursday was a bad day as a group of bipartisan senators are trying to require chains to list calories on their menus.  This is aimed at the big restaurant chains with 20 locations of the same name rather than mom and pop stores.  If you can believe it, fast food and casual dining restaurant owners McDonald’s Corp. (NYSE: MCD) and Yum! Brands Inc. (NYSE: YUM) already have this available online.  Some of the big chains out there make this available and some do not.

Imagine if (or when) you are forced to see the calorie, salt, and fat counts for many of your favorite foods such as Buffalo Wings at Buffalo Wild Wings Inc. (NASDAQ: BWLD). Or what about some of those oversized plates big enough for two or three meals at The Cheesecake Factory (NASDAQ: CAKE)?  And what if you tally up the full calories and sodium in Chinese food at PF Chang’s China Bistro Inc. (NASDAQ: PFCB)?  Or a Monster Burger at Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB).  Or what about Brinker International Inc. (NYSE: EAT) chains like Chili’s for the Texas Cheese Fries?

We do not mean to pick on any single chain by naming menu items or chains, because this  could affect all big chain owners to the likes of Burger King Holdings Inc. (NYSE: BKC), Wendy’s/Arby’s Group, Inc. (NYSE:WEN), Texas Roadhouse Inc. (NASDAQ: TXRH), Sonic Corp. (NASDAQ: SONC), California Pizza Kitchen Inc., (NASDAQ: CPKI), and many more.  The news of this had a significant negative impact on most of these stocks today when you consider we had an up market.
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Posted on: June 11, 2009 – 4:33 pm in Consumer Goods, Food, Law, Politics, Regulation, Retail, , , , , , , , , , , ,

Top Pre-Market Analyst Upgrades (ASML, ATMI, WFR, PALM, PFCB, PRAA, RAH, TXN, WOOF, XEL)

These are some of the top pre-market analyst calls we have seen this Friday morning…. Friday the 13th:

  • ASML (ASML) Raised to Buy at Deutsche Bank.
  • ATMI (ATMI) Raised to Buy at UBS.
  • MEMC Electronics (WFR) Raised to Buy at UBS.
  • Palm (PALM) Started as Outperform at Credit Suisse.
  • PF Chang’s (PFCB) Raised to Outperform at William Blair.
  • Portfolio Recovery Associates (PRAA) Raised to Market Perform at KBW.
  • Ralcorp Holdings (RAH) Raised to Buy at UBS.
  • Texas Instruments (TXN) Raised to Buy at UBS.
  • VCA Antech (WOOF) Raised to Hold at Jefferies.
  • Xcel Energy (XEL) Started as Outperform at Wachovia.

Jon C. Ogg
February 13, 2009

Posted on: February 13, 2009 – 7:45 am in Analyst Calls, , , , , , , , , , , , ,

Nelson Peltz: Bought Hansen, Dumped Starbucks (HANS, SBUX, PFCB, HNZ, WEN, TUX)

We just got to take a look at the JUNE 30 holdings of Nelson Peltz via an SEC filing of his TRIAN FUND MANAGEMENT GROUP.  If you look throughout full filing you’ll see that he has other holdings other than food and restaurants, but Wall Street generally looks to Peltz for his interest and activities in restaurant and/or food companies as he’s been involved in.  Below are the select stock holdings we have identified:

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Posted on: August 14, 2008 – 11:41 am in Activist Investor, Food, Retail, , , , , ,

Top Analyst Upgrades (BWA, CLWR, CLF, CSX, NTLS, PFCB, VPHM)

These aren’t all of the upgrades or positive analyst calls we have seen this Wednesday, but these are some of the impact analyst calls we are seeing:

  • BorgWarner (NYSE: BWA) Raised to Outperform from Neutral at Baird.
  • Clearwire (NASDAQ: CLWR) Started at Outperform at RBC Capital.
  • Cleveland-Cliffs (NYSE: CLF) Started as Buy at KeyBanc.
  • CSX (NYSE: CSX) Raised to Buy from Neutral at Merrill Lynch.
  • Ntelos Holdings (NASDAQ: NTLS) Started as Outperform at RBC Capital.
  • P.F. Chang’s (NASDAQ: PFCB) Raised to Buy from Hold at Jefferies.
  • ViroPharma Inc. (NASDAQ: VPHM) Raised to Overweight at Thomas Weisel.

Jon C. Ogg
July 16, 2008

Posted on: July 16, 2008 – 6:35 am in Analyst Calls, , , , , , ,

Top 10 Pre-Market Analyst Calls (MT, CBOU, CPHD, IFF, IP, PFCB, PG, RAI, RF, USX, VQ)

These are some of the top analyst calls we are focusing on this morning:

  • ArcelorMittal (NYSE: MT) Cut to Neutral from Overweight at HSBC.
  • Caribou Coffee (NASDAQ: CBOU) Cut to Neutral from Outperform at Cowen.
  • Cepheid (NASDAQ: CPHD) Raised to Buy from Neutral at UBS.
  • Intl Flavors & Fragrances (NYSE: IFF) Cut to Underweight from Neutral at JPMorgan.
  • International Paper (NYSE: IP) cut To Neutral from Outperform at Credit Suisse.
  • PF Chang’s (NASDAQ: PFCB) Cut to Neutral from Outperform at Cowen.
  • Procter & Gamble (NYSEL PG) Cut to Hold from Buy at Deutsche Bank.
  • Reynolds American (NYSE: RAI) Raised to Neutral from Sell at Goldman Sachs.
  • Regions Financial (NYSE: RF) Raised to Hold from Sell at Citi.
  • US Steel (NYSE: USX) Cut to Hold From Buy at Citigroup.
  • Venoco (NYSE: VQ) Raised to Buy from Hold at Jefferies.

Jon C. Ogg
April 17, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Posted on: April 17, 2008 – 6:52 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AYR, ARST, GLS, HCBK, JRN, MAKO, PFCB, TLM, WAT, WW)

These are the top analyst upgrades and downgrades that 247WallSt.com is focusing on in pre-market trading this Wednesday morning:

  • Aircastle (NYSE: AYR) Downgraded to Neutral from Overweight at JPMorgan.
  • ArcSight (NASDAQ: ARST) started as Outperform at Wachovia; started as Equal Weight at Lehman Brothers.
  • Genesis Lease (NYSE: GLS) Downgraded to Neutral from overweight at JP Morgan.
  • Hudson City Banc (NASDAQ: HCBK) Downgraded to Market Perform from Outperform at FBR.
  • Journal Commun (NYSE: JRN) started as Outperform at Bear Stearns.
  • MAKO Surgical (NASDAQ: MAKO) Started as Market Perform at Wachovia; Started as Overweight at JPMorgan.
  • P.F. Chang’s (NASDAQ: PFCB) Downgraded to Underperform From Market Perform at FBR.
  • Talisman Energy (NYSE:TLM) raised to Buy from Hold at Citigroup.
  • Waters (NYSE: WAT) Raised To Overweight From Neutral at JPMorgan.
  • Watson Wyatt (NYSE: WW) raised to Buy from Hold at UBS.

Jon C. Ogg
March 26, 20008

Posted on: March 26, 2008 – 6:05 am in Analyst Calls, , , , , , , , , ,

Short Sellers Lighten Up On Growth Restaurant Chains (RRGB, PZZA, MSSR, BWLD, SBUX, CAKE, TXRH, CBRL, PFCB, PNRA)

We’ve started seeing some of the recent emptier pockets of Joe Q. Consumer, and after a warning yesterday out of McCormick & Schmicks’s we wanted to see how some of the NASDAQ growth restaurant chains were doing as far as short sellers were concerned.  Interstingly enough, of the ones we look at with regularity that get media coverage it seems like there is actually a drop in short selling from August to September.  Below is a list of companies in the sector along with the shares short in September and a percentage change from the August count of the short interest:

  • Red Robin Gourmet (RRGB)         3.304M  -1.13%
  • Papa John’s (PZZA)                         2.245M   -2.91%
  • McCormick & Schmick’s (MSSR)  1.497M   -6.22%
  • Buffalo Wild Wings (BWLD)           3.293M    -6.4%
  • Starbucks (SBUX)                          25.725M   -6.98%
  • Cheesecake factory (CAKE)         11.636M   -7.55%
  • Texas Roadhouse (TXRH)                7.066M    -7.93%
  • CBRL Group (CBRL)                       4.727M  -14.92%
  • P.F.Chang’s (PFCB)                         7.051M  +2.54%
  • Panera Bread (PNRA)                      4.688M  +7.91%

Here are some key related articles that may give added insight:

Jon C. Ogg
September 26, 2007

Posted on: September 26, 2007 – 9:01 am in Food, Short Interest, , , , , , , , , ,

Pre-Market Analyst Calls (September 25, 2007)

ACLI cut to Hold at Cantor Fitzgerald.
ARRS cut to Mkt Perform at FBR.
BKR cut to Neutral at Oppenheimer.
BRCM cut to Mkt Perform at FBR.
BZH started as Sell at UBS.
CAKE started as Outperform at Credit Suisse.
CCBL cut to Mkt Perform at FBR.
CKR started as Outperform at Credit Suisse.
CSG cut to Underperform at Bear Stearns.
CTX started as Buy at UBS.
DF cut to Peer PErform at Bear Stearns.
DHI started as Sell at UBS.
EMC started as Buy at B of A.
EMC started as Buy at Jefferies.
FLWS raised to Outperform at CIBC.
GOL raised to Neutral at JPMorgan.
GYI started as Sector Perform at CIBC.
HOV started as Neutral at UBS.
JBX started as Outperform at Credit Suisse.
K cut to Peer PErform at Bear Stearns.
KBH started as Buy at UBS.
LEN started as Sell at UBS.
MCD started as neutral at Credit Suisse.
MMC cut to Neutral at JPMorgan.
MTH started as Neutral at UBS.
NILE started as Sector Perform at CIBC.
NTAP started as Neutral at Bank of America.
NVDA started as Neutral at UBS.
PACR cut to Neutral at JPMorgan.
PFCB started as Underperform at Credit Suisse.
PHM started as Sell at UBS.
RHT started as Sector Perform at RBC.
RT started as Outperform at Credit Suisse.
RYL started as Neutral at UBS.
SNIC raised to Overweight at JPMorgan.
SPF started as Sell at UBS.
TAM raised to Neutral at JPMorgan.
TXRH started as Outperform at Credit Suisse.
WON raised to Buy at Deutsche Bank.

Jon C. Ogg
September 25, 2007

Posted on: September 25, 2007 – 7:08 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , , , ,

How Out of Favor Is P.F. Chang’s With Diners & Investors?

P.F.Chang’s (NASDAQ:PFCB) is one of those public restaurant chains that you just can’t necessarily judge a book by its cover.  Or maybe by the analogy "you can’t judge a restaurant by its food or its crowd."  Today PFCB shares are hitting the lovely and dubious list of 52-week lows.  Shares are under $31.20, and the prior range is $31.42 to $47.10.  Trading volume is not even 500,000 shares, and the average daily volume is close to 625,000 shares.

If this is pertaining to its core restaurants then it is a head scratcher.  In Houston you have to wait an hour or more for a table with frequent regularity and you often have the same sort of wait for downtown Chicago.  Franlky, both the food and the dining experience at the core restaurants have never been a disappointment outside of having to wait.  Obviously you cannot judge a whole franchise or a whole company based on two major metro locations that are in hot areas of the city and that don’t know what watching the pocketbook means.  Its newer Pei Wei initiative may be playing against it, but that is merely conjecture.  Operating costs per location is far less than at flagship P.F. Chang’s locations, but you know it when you walk in and the food is far less impressive than the flagship.

The analysts that cover PFCB are no longer under a real positive bias and the average price target is only around $39.00.  With $1.34 now expected for fiscal DEC-2007 and $1,56 EPS expected for fiscal DEC-2008, the forward numbers don’t seem overly expensive. 

Investing in hot food chains that revolve mostly around a single concept or at least closely tied comcepts is often a more wild ride.  It’s great when the trend is its friend, but being on the wrong side of company maturing or that has an execution flaw is as bad as eating by the sewer.  When these concepts start to mature, the logical step is to look for a buyer or to look for a new growth chain. 

The company lowered its expectations at the end of July and shares slid around the time before and after by about 10%.  In mid-August this did quite well and shares went back to over $37.00.  With its performance of late it leaves one of two conclusions: 1) the company is off center on its newer concept stores, or 2) it maybe wasn’t cautious enough with last guidance.

Jon C. Ogg
September 13, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.

Posted on: September 13, 2007 – 1:46 pm in Food, , ,

Earnings Gappers (July 25, 2007)

(AMZN) Amazon.com trading up over 20% after beating earnings and raising guidance; has 5 upgrades so far.
(ASH) Ashland $1.35 EPS vs $1.11 estimate.
(BA) Boeing $1.35 EPS vs $1.16 estimate; guidance looks soft if not on items; shares trading up 2% pre-market.
(CACH) Cache $0.12 EPS vs $0.07 estimate.
(CBR) Ciber $0.13 EPS vs $0.12 estimate.
(CL) Colgate-Polmolive $0.84 EPS vs $0.83 estimate.
(ETH) Ethan Allen $0.65 EPS vs $0.65 estimate.
(FLIR) FLIR Systems $0.38 EPS vs $0.36 estimate.
(HES) Hess $1.75 EPS vs $1.45 estimate.
(JOYG) Joy Global issues earnings warning.
(KEM) Kemet $0.12 EPS vs $0.10 estimate.
(MDCO) Medicines Company $0.03 EPS vs $0.02 estimate.
(MPX) Marine Products $0.14 EPS vs $0.12 estimate.
(NTRI) NutriSystem traded down another 10%+ after beating estimates, but lowering guidance.
(PAS) Pepsi Americas $0.60 EPS vs $0.50 estimate.
(PFCB) P.F.Chang’s $0.36 EPS vs $0.36 estimate.
(RAI) Reynolds America $1.10 EPS vs $1.21 estimate.
(SEE) Sealed Air $0.41 EPS vs. $0.42 estimate.
(TRAD) TradeStation $0.18 EPS vs $0.18 estimate.
(TRB) Tribune $0.47 EPS vs $0.48 estimate.
(TROW) T.Rowe Price $0.58 EPS vs $0.58 estimate.
(XEL) Xcel Energy $0.29 EPS vs $0.26 estimate.

Jon C. Ogg
July 25, 2007

Posted on: July 25, 2007 – 7:23 am in Earnings, Pre-Market Activity, , , , , , , , , , , , , , ,