Three investment firms downgraded the stock Thursday.
Book value for LDRY is around 13. Hope this baby drops to around 10 and I will be all over it.
Noticed a few months ago in IBD that LDRY was one of the top stocks that had been accumulated by institutions (this is a new feature in IBD that is featured every Friday now, I believe). This was when the stock was still in the mid to high 20's. My guess is that a lot of them have been burned and bailed out, not to return soon. Even at this price, it is a good long term buy.
Could be dead money for 6 months or so, we'll have to see how management reacts. As far as I know, this is the first time LDRY has experienced some growing pains. Confident that management is a very capable crew, however turning around a company in this industry is not an easy, nor a quick, process. My guess is that it will drift lower short term, then sit, and eventually move forward again. IMHO, a great long-term buy, if you have patience. Never rule out a buyout by Brinker, etc, at these prices...
Wish this thread was more active - I, for one, will be visiting LDRY restaurants in the Dallas area periodically to see what is up.
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