THE WEEK THAT WAS, ENDING MAY 19 – ASIDE FROM FRANCHISE GROUP (FOLLOWING RUTH'S HOSPITALITY) GOING PRIVATE, TWO UPGRADES & ONE DOWNGRADE - with relevant transcripts

Regarding companies previously reporting: Franchise Group is downgraded after going private transaction announced, Wendy’s Upgraded to Buy, Shake Shack Upgraded to Neutral , Noodles Downgraded to Neutral

Planet Fitness Initiated with Outperform

Reborn Coffee Maintained at Buy

TX Roadhouse Maintained at Equal Weight

Regarding Shake Shack: Three Analysts Now Neutral

Wingstop Maintained At Hold

Sweeegreen Reiterated at Neutral

Chipotle Maintainedat Outperrform

Dutch Bros Reiterated at Outperform

REPORTED IN PAST WEEK – Ark Restaurants (ARKR), BurgerFi (BFI), Jack in the Box (JACK) and Arcos Dorados (ARCO)

Regarding JACK – nine analysts are Neutral, five are Positive

Regarding BFI – one analyst likes it

Regarding ARCO – one analsyst likes it

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes (Franchise Group, Shake Shack, Wendy’s, Noodles) or initiations (Planet Fitness), companies reporting in THE WEEK THAT WAS (Ark Restaurants, BurgerFi, Arcos Dorados, Jack in the Box).

Franchise Group

https://seekingalpha.com/article/4602786-franchise-group-inc-frg-q1-2023-earnings-call-transcript

Shake Shack

https://seekingalpha.com/article/4600074-shake-shack-inc-shak-q1-2023-earnings-call-transcript

Wendy’s

https://seekingalpha.com/article/4602545-wendys-company-wen-q1-2023-earnings-call-transcript

Noodles

https://seekingalpha.com/article/4602837-noodles-and-company-ndls-q1-2023-earnings-call-transcript

Planet Fitness

https://seekingalpha.com/article/4599997-planet-fitness-inc-plnt-q1-2023-earnings-call-transcript

Ark Restaurants

https://seekingalpha.com/article/4605145-ark-restaurants-corp-arkr-q2-2023-earnings-call-transcript