3 Restaurant Stocks worth a trade
We like Sonic Corp (SONC), Einstein Noah Restaurants (BAGL), and last but not least, Hasselhoff's favorite burger joint: Wendy's Company (WEN).
Without further ado, here is why we like these tasty places.
Sonic Corp (SONC)
Shares of Sonic Corp recently broke out of a 5 month consolidation pattern where the stock hit multiple bottoms. The floor is in, the question is how high can shares go?
The bull flag that Sonic is sporting is looking very tempting, but expect to find a little resistance at the 200 day moving average, around $8.65. With shares trading at $7.88 today, that's a 10% gain in the short term if the market cooperates. Out of the 3 stocks we've picked, SONC has the best chart setup.
Einstein Noah Restaurants (BAGL)
Noah's Bagels are popping up all over the place. As of last November, it owned 750 restaurants in 39 states and the District of Columbia. Look for continued growth out of BAGL, and the 3.62% dividend yield helps by paying you to own shares.
Of the 3 picks, Noah's Bagels chart is the least pretty, recently plowing through all of the moving averages to the downside and even breaking through the lower channel, as shown by the blue line in the chart. However, if you believe we are in a bull market and the economy is recovering, this poses as a great buying opportunity to get in on shares of this Dividend paying stock.
Wendy's Company (WEN)
David Hasselhoff. Need we say more? OK the real reason we like Wendy's is the insider buying going on. At a time when the market is near all time highs, it's refreshing to see management putting their money where their mouth is. In the case of Wendy's, insiders have scooped up 21,760,400 shares valued at $106,655,764. That's throwing down some serious dough. (Insider trading data from Finviz.com)
With a 52 week range of $4.27 - $5.57, Wendy's is a pretty stable place to put your hard earned cash, and who knows, maybe the insiders know something we don't - thus all the insider buying.
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