Televet
2 years ago
BurgerFi International is called a post-COVID winner by BTIG
May 17, 2022 11:12 AM ETBurgerFi International, Inc. (BFI)By: Clark Schultz, SA
BTIG stayed positive on BurgerFi International (NASDAQ:BFI +2.4%) after taking in the restaurant operator's earnings report.
"Though BurgerFi same-store sales were sizably below our estimate, mostly owing to the Omicron disruption, revenue and adjusted EBITDA were largely in-line with our estimates owing to stronger Anthony's sales," noted analyst Peter Saleh.
Saleh and team see the BFI quarter as the low point for the year with sales and restaurant margins forecast to show steady improvement through the year as COVID fades, menu pricing builds and heightened commodity inflation is lapped.
BFI is still rated at Buy at BTIG with the chain's development opportunity, margin potential and sales recovery all noted. Lower industry-wide valuation multiples led BTIG to cut its price target to $8.50 from $11, which after the more than 50% drop this year still leaves plenty of upside potential.
Televet
3 years ago
BurgerFi: A Beaten-Down Growth Story Worthy Of A Second Look
Aug. 25, 2021 3:27 PM ETBurgerFi International, Inc. (BFI)
https://seekingalpha.com/article/4451807-burgerfi-worthy-of-a-second-look?mail_subject=bfi-burgerfi-a-beaten-down-growth-story-worthy-of-a-second-look&utm_campaign=rta-stock-article&utm_content=link-2&utm_medium=email&utm_source=seeking_alpha
Conclusion
At the current price level, BFI seems to have found a floor. Given that the stock is trading below its book value by a considerable amount, we feel that an investment with a 6-18 month time horizon is wise. While some questions remain about the company's ability to scale effectively, the margin of safety is large enough that we feel comfortable putting out money where our mouth is. We issue a buy price of under $12.5 and an initial price target of $25.
Televet
3 years ago
BurgerFi to join Russell Microcap Index
Jun. 16, 2021 9:58 AM ETBurgerFi International, Inc. (BFI)By: Kaushik Sampat, SA News Editor
BurgerFi International (NASDAQ:BFI) set to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021.
Televet
3 years ago
10-Q out
Looks good to me
https://www.otcmarkets.com/filing/conv_pdf?id=14970256&guid=wifnUpA5J_OH4yh
Management Commentary
“The first quarter of 2021 reflected our return to positive sales growth, achieved through unit growth and same store sales growth in both corporate owned restaurants and franchised locations,” said Julio Ramirez, CEO of BurgerFi. “Our success demonstrates the continued momentum from the COVID-19 pandemic recovery, supported by growth in our number of locations, strong results from our digital channel, the execution of our marketing strategy and successful limited time offerings. As a continuation of the investments in our digital channel, we also recently announced that we have hired Karl Goodhew as chief technology officer, a new position at our company that reflects the increasingly important role that technology is playing in our business.
Additionally, we continue to redefine our brand and value proposition, and I’m pleased to say we have hired Henry Gonzalez as chief marketing officer. With his extensive leadership experience in field and corporate marketing, he is uniquely qualified to collaborate with all stakeholders to help us unlock our brand’s potential and drive growth
Televet
3 years ago
https://finance.yahoo.com/news/martha-stewart-joins-burgerfis-board-161700061.html
Stewart to Chair Product & Innovation Committee
PALM BEACH, Fla., March 1, 2021 /PRNewswire/ -- BurgerFi International Inc. (Nasdaq: BFI, BFIIW), one of the nation's fastest-growing premium fast-casual concepts and QSR's 2020 Breakout Brand of the Year, known for its hand-crafted better burgers, has named food entrepreneur and cultural icon, Martha Stewart to its Board of Directors as Chair of the Product & Innovation Committee. Stewart brings a lifetime of experience in successfully launching countless brands, culinary products and recipes. Stewart is the Founder of the first-ever multi-channel lifestyle company, Martha Stewart Living Omnimedia, an entrepreneur, bestselling author of 98 to-date lifestyle and recipe books, and an Emmy award-winning (18 Emmys to date) and James Beard award-winning television show host.
Martha Stewart to Chair Product & Innovation Committee of BurgerFi's Board of Directors
"BurgerFi is honored to welcome Martha Stewart to our Board of Directors. Highly regarded as the 'original influencer,' her lifetime of successful achievements and knowledge of marketing, product innovation and food expertise are second to none. As a pioneer in the world of culinary consumerism, Martha stands out as a leader and has the unique ability to connect with an audience. We look forward to her contributions and creative ideas that will enhance the BurgerFi business and brand," said Ophir Sternberg, Executive Chairman of BurgerFi.
Today, Stewart reaches more than 100 million devoted fans on a monthly basis, holds a 96% brand awareness among women in the US and 70% of US millennials say they have tried a Martha Stewart recipe – her reach is endless and America's appetite for her is still insatiable year after year.
"BurgerFi's chef-driven concept attracted me to the brand. From their hand-crafted menu items and their commitment to the NAE program – No Antibiotics Ever, BurgerFi's mission to redefine the way the world eats burgers is powerful and showcases their efforts to excel with their products and innovation. I am looking forward to being a part of the BurgerFi family and watching the brand amass its true potential," said Martha Stewart, newly appointed BurgerFi Board Chair of the Product & Innovation Committee. "The BurgerFi VegeFi burger is made with 15 of the freshest vegetables and ingredients and made right in their newly expanded commissary in Palm Beach. It's as if the vegetables were picked right from my own garden!"
BurgerFi uses 100% American angus beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi's menu also includes high-quality wagyu beef, antibiotic and cage-free chicken offerings, fresh, hand-cut sides and custard shakes and concretes.
"BurgerFi is a powerful better burger concept and when you combine forces with a powerhouse like Martha Stewart, who can infuse her talent, experience and knowledge with a passion and excitement for the brand, it's a recipe for even greater success," said Julio Ramirez, CEO of BurgerFi. "It's a great honor to welcome Martha Stewart to the BurgerFi Board of Directors. With chef-inspired products, Martha's appointment to the board seemed natural given her cornucopia of achievements. Her contributions as Chair of the Product & Innovation Committee collaborating with our very own Chef Paul Griffin will undoubtedly boost the brand and create strong value for the company."
Since founding her company, Stewart has been named one of the "50 Most Powerful Women" by Fortune magazine five times. She was included among the 100 Greatest Living Business Minds in the 2018 Forbes Magazine Centennial issue and Adweek magazine named her their "Media Visionary" of the year in their annual Publishing Hot List in 2017. She was also included among the 100 most influential men and women of the year in the 2005 TIME magazine's annual "TIME 100" list and was also named one of "America's 25 Most Influential People" by TIME magazine in 1996. She has won numerous James Beard Foundation Awards for the Best National Cooking Segments.
Stewart joins BurgerFi's Board of Directors whose robust leadership includes notables such as Steven Berrard, Co-Founder of AutoNation and Executive Chairman Ophir Sternberg, CEO of Lionheart Capital. Stewart also currently sits on the board of publicly traded companies, AppHarvest and Sequential Brands Group.