THE WEEK THAT WAS, ENDING August 7th – 22 companies report, busiest week of quarter, just three stocks downgraded (one of them twice)

REPORTED IN PRIOR WEEKS – One – Wingstop lowered from Outperform to Market Perform by Bernstein – Otherwise:

Chipotle maintained at Buy by 2 firms.

Maintained with Positive ratings by 1 firm were: Wingstop, CAVA Group & Yum Brands.

REPORTING IN THE WEEK THAT WAS: Luckin Coffee, The One Group, First Watch, McDonald’s, Valvoline, Dine Brands, Shake Shack, Bloomin’ Brands, Nathan’s Famous, Dutch Bros, Portillo’s, Driven Brands, Papa John’s, Planet Fitness, Restaurant Brands, Krispy Kreme, Good Times Restaurants, Xponential Fitness, The Joint, El Pollo Loco, Sweetgreen, Texas Roadhouse, Wendy’s.

THREE DOWNGRADES, including two downgrades of Papa John’s from Buy to Neutral (by Benchmark Securities & Stephens & Co.) and a downgrade of Xponential Fitness from Buy to Neutral (by Guggenheim Securities).

Otherwise:

First Watch maintained at Buy by 2 firms.

McDonald’s maintained Neutral at 2 firms, Positive at 3 firms.

Valvoline maintained Positive at 2 firms.

Shake Shack maintained Neutral at 2 firms, Outperform at 1 firm.

Dutch Bros maintained Positive at 3 firms.

Papa John’s maintained Neutral at 2 firms.

Restaurant Brands maintained Neutral at 1 firm, Positive at 2 firms.

Sweetgreen maintained Neutral at 3 firms, Positive at 3 firms.

Texas Roadhouse maintained Neutral at 2 firms, Positive at 5 firms.

Maintained Neutral at 1 firm were: Bloomin’ Brands, Portillo’s, Krispy Kreme.

Maintained Positively a 1 firm were El Pollo Loco, Restaurant Brands, Planet Fitness.

Conference call transcripts are below for all companies reporting in prior weeks with ratings change (Wingstop), reporting in THE WEEK THAT WAS: (Luckin Coffee, The One Group, First Watch, McDonald’s, Valvoline, Dine Brands, Shake Shack, Bloomin’ Brands, Nathan’s Famous, Dutch Bros, Portillo’s, Driven Brands, Papa John’s, Planet Fitness, Restaurant Brands, Krispy Kreme, Good Times Restaurants, Xponential Fitness, The Joint, El Pollo Loco, Sweetgreen, Texas Roadhouse, Wendy’s.) and Initiated Coverage (none).

Wingstop

Wingstop Inc. (WING) Q2 2026 Earnings Call Transcript _ Seeking Alpha

Luckin Coffee

Luckin Coffee Inc. (LKNCY) Q2 2026 Earnings Call Transcript _ Seeking Alpha

Luckin Coffee Presentation

The One Group Hospitality

The ONE Group Hospitality, Inc. (STKS) Q2 2026 Earnings Call Transcript _ Seeking Alpha

First Watch

First Watch Restaurant Group, Inc. (FWRG) Q2 2026 Earnings Call Transcript _ Seeking Alpha

FIRST WATCH PRESENTATION

McDonald’s

McDonald’s Corporation (MCD) Q2 2026 Earnings Call Transcript _ Seeking Alpha