Several full-service casual dining chains are looking to sell themselves, hoping that strong valuations from fast-growing rivals like Chipotle Mexican Grill Inc and Panera Bread Co mean that deals could be accomplished at favorable prices this year.Consumers have shunned restaurants that offer table service in favor of faster and cheaper options at the counter, an industry known as fast casual restaurants.As a result, a number of casual dining chains such as Ruby Tuesday Inc and TGI Fridays are exploring sales processes, people have told Reuters. Others like Dave & Busters and Darden's Red Lobster chain are also considering sales.These companies have had their own struggles, but are coming to market at a time when valuations in the restaurant sector overall are at all-time highs.
Chipotle Mexican Grill, Inc. (Chipotle) operates Chipotle Mexican Grill restaurants. Shares of CMG traded higher by 0.2% or $1.0801/share to $530.59. In the past year, the shares have traded as low as $290.01 and as high as $550.28. On average, 391965 shares of CMG exchange hands on a given day and today's volume is recorded at 47295.
Panera Bread Company (Panera) s a national bakery-cafe concept with 1,541 Company-owned and franchise-operated bakery-cafe locations in42 states, the District of Columbia, and Ontario, Canada. Shares of PNRA fell by 0.51% or $-0.889/share to $173.17. In the past year, the shares have traded as low as $150.33 and as high as $194.77. On average, 580022 shares of PNRA exchange hands on a given day and today's volume is recorded at 16255.
Ruby Tuesday, Inc., including its wholly-owned subsidiaries, owns and operates Ruby Tuesday, Lime Fresh Mexican, GrillMarlin & Ray?s, and Wok Hay casual dining restaurants. Shares of RT fell by 1.32% or $-0.0799/share to $5.97. In the past year, the shares have traded as low as $5.40 and as high as $9.90. On average, 822843 shares of RT exchange hands on a given day and today's volume is recorded at 39990.
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