Back to top

Analyst Blog

Zacks Equity Research

Famous Dave's Debuts in Wyoming

DRI DAVE

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Famous Dave's of America Inc. (DAVE - Snapshot Report) recently opened its first Famous Dave's Legendary Pit Bar-B-Que restaurant in Casper, Wyoming. This is at par with the company’s goal of opening some 50 new units in the U.S. by 2014.

Casper, the second-largest city in Wyoming, is the county seat of Natrona County. It is also a regional center for banking and commerce in the state. The new Famous Dave's restaurant is strategically positioned at 5900 East 2nd street in the McMurry business Park to target working groups. The restaurant accesses views of Casper Mountain and provides spacious indoor and outdoor areas.

Wyoming is in the mountains of the Western United States. Famous Dave’s have noted the advantages to be gained from the emerging restaurant industry, in deciding to open its first unit in the state. As per the National Restaurant Association, the Wyoming restaurant industry will register around $0.8 billion in revenues in 2012.

One of Famous Dave’s peers, Darden Restaurants, Inc. (DRI - Analyst Report) has an extensive presence in the state, with two major brands occupying a large share of the Wyoming market, a fact Famous Dave’s needs to be wary of.

Famous Dave’s has been on an expansion mode lately. Last month, the company inked its largest deal of 2012 to add 21 restaurants in the U.S., with most of the openings targeted in California and the rest in Michigan, Missouri and Washington. Earlier in December, Famous Dave’s opened its second restaurant in Fort Myers in Florida. The company also expects to expand in Gillette with a unit in 2013.  

We remain impressed with the company’s decision to increase the number of units, despite the possible challenging environment for restaurant growth in the U.S.

Minnesota-based Famous Dave’s owned 53 locations and franchised 133 additional units in 33 states and one Canadian province.

We currently have a long-term Neutral recommendation on Famous Dave’s. However, it carries a short term Zacks #4 Rank (Sell).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%