The Company is a restaurant company in the United States operating three restaurant brands in the quick-casual and quick-service restaurant segments.
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It seems like a risk to add TAST as an outperform choice to my caps picks with the stock on a downward trend and reporting Q4, 2006 results on Thursday, March 1.
However, it seems likely that TAST will exceed the (few) analyst's estimates. Also, it is down 10.5% from the Dec IPO price and down 8.5% from just Feb 9th.
Regardless, estimates are for EPS of $0.85 in 2007 and $1.05. Assuming the P/E stays at its current level of 20, that gives the stock a price of $17 in 2007 and $21.00 in 2008.
Given the potential for growth, those seem conservative estimates. One watch-out is that they are heavily leveraged (aka, deep in debt). If they can manage debt as they grow, this looks like a sure winner.
Well, TAST reported 4Q and full-year 2006 after the market close yesterday, 1-March. EPS was reported at $0.83 which exceeded the 2006 estimate of $0.61 by 36%. So far, pre-market, no reaction in share price. But I'm wondering if now would be a good time to invest in this still-small restaurant company using real dollars instead or "risking" a caps pick. The company still carries $358 million in long-term debt, but that is down from $505 million at the end of 2005.