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Bob Evans Farms, Inc. Message Board

golfer18us 7 posts  |  Last Activity: Apr 21, 2015 12:59 PM Member since: Jun 9, 2011
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  • Reply to

    Stock Down 31% YTD

    by dahnshaulis Apr 15, 2015 7:21 AM
    golfer18us golfer18us Apr 21, 2015 12:59 PM Flag

    At some point, "positives" have to go from being potential to being realized. This stock is down 83% in the past 5 years while the S&P 500 is up 77%. The regulatory environment is bad and will be for a very long time. They have no value in their leased real estate. They've sold almost everything of value and it hasn't moved the needle all. It's dead money.

    Sentiment: Strong Sell

  • I bet the retail investor must feel good about buying stock at $2.70/share while the company sold a bunch of stock for $2.16/share to a few funds. Here's the release:

    Boston, MA - April 13, 2015 - Così, Inc. (COSI), the fast casual restaurant company, today announced that it has closed on a stock purchase transaction with Trishield Capital Management LLC, Janus Capital Management, LLC, Goose Hill Capital LLC, Bigger Capital Fund, LP, Ken Vaughan, and one other firm. These investors have purchased an aggregate of 7,160,766 shares of the Company`s common stock, par value $.01 per share, at a purchase price of $2.16 per share. Gross proceeds to the Company in the amount of $15,467,255 will be used to pay indebtedness of the Company and for general corporate purposes. The transaction closed on April 10, 2015.

    Sentiment: Strong Sell

  • Reply to

    march quarter will be awful....

    by svenkarls1 Mar 28, 2015 11:57 AM
    golfer18us golfer18us Apr 3, 2015 11:18 AM Flag

    I think the folks who are "negative" are looking at the fact that this chain has NEVER posted a profit in its entire history and somehow they keep finding a way to raise money to stay afloat. If you dig in and look at their economics, you'll see that they don't even have a positive gross margin. While G&A is an area of opportunity, it could be zero and this company would not be a good investment. They have closed stores every year for a long time and they have had negative cash flow (aside from propping it up with selling rights, etc). It's not a sustainable proposition. I see no reason for anyone to invest money in this concept but there are some who believe it will turnaround. I'm not sure what facts they base their optimism on.

  • Having watched this stock for many years, I'm amazed at the number of lives it's been granted by folks who willingly give them their hard-earned money. Once again, another year has come and gone and it was a disaster...again. Net store count down. Revenues...down. Margins ...down. All that led to RECORD operating losses. Even if you back out the presumably one-time charges to move the HQ and terminate some leases (which I bet they'll have to do more of in this fiscal year), you still get RECORD losses and a HUGE cash burn. They are so far from simply breakeven that no reasonable assumption can be made that they'll get there any time soon. Luckily for them, they found plenty of people to buy more common so they are sitting on about 18 months of cash at the present burn rate. This will not survive long term and nobody will be looking to buy it if that's one of your exit strategies.

    Sentiment: Strong Sell

  • golfer18us golfer18us Mar 5, 2015 11:27 AM Flag

    Looks like most people agree ....stock is down almost 60% from the IPO. CFO departure can't be a good sign.

    Sentiment: Sell

  • Reply to

    BOBE is way over price. At best a $25 stock

    by getintoh20 Mar 3, 2015 5:46 PM
    golfer18us golfer18us Mar 4, 2015 10:19 AM Flag

    I concur with your conclusion. What makes BOBE even worse to me is the fact that their margins, and returns, stink yet they own almost every one of their sites. The fact that they don't pay rent and still have #$%$ margins is amazing. If they ever do sell their real estate and end up bearing a real rent, we'll see margins go down 5-8 pts.

    Sentiment: Sell

  • The next announcement needs to be a big one. Their PEG ratio is 2.93. To put that in perspective, here are the PEG ratios for a few well-known companies that have had good growth...SBUX 1.57, Google 1.56 and Apple 1.14. If you're a buyer of PBPB now, you're paying a premium for the expected growth.

    Sentiment: Sell

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