Burger King’s veggie plunge seems to be paying off in healthy traffic.
The Restaurant Brands International-owned fast food chain started testing a vegetarian version of its Whopper, made with the plant-based Impossible Burger, in several cities starting April.
According to a report from inMarket inSights, Burger King locations in its test market, St. Louis, outperformed the chain’s national foot traffic average by 18.5% in April. The city’s Burger King stores experienced 16.75% higher foot traffic in April than the previous month’s average for all U.S. Burger Kings. Outside St. Louis, stores had a decrease in foot traffic by 1.75% from March’s average, according to the study (as reported by CNBC).
During its first quarter, the chain reported same-store sales growth of 2.2%, down from 3.8% a year earlier. Sales could potentially improve once the plant-based options are expanded into more cities, given the apparent popularity of the Impossible Whopper.
Another fast food giant, McDonald’s, is considering plant-based alternatives for its burgers.
Amidst the growing trend of restaurants offering plant-based food, Impossible Foods - the maker of the plant-based Impossible Burger - raised $300 million in its latest funding round.
QSR may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 30 cases where QSR's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on February 28, 2024. You may want to consider a long position or call options on QSR as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for QSR just turned positive on March 01, 2024. Looking at past instances where QSR's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .
QSR moved above its 50-day moving average on February 29, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where QSR advanced for three days, in of 325 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The 10-day moving average for QSR crossed bearishly below the 50-day moving average on February 22, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where QSR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.532) is normal, around the industry mean (7.391). P/E Ratio (20.761) is within average values for comparable stocks, (180.274). Projected Growth (PEG Ratio) (1.842) is also within normal values, averaging (1.957). Dividend Yield (0.028) settles around the average of (0.032) among similar stocks. P/S Ratio (5.068) is also within normal values, averaging (2.440).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. QSR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
an operator of restaurants
A.I.dvisor indicates that over the last year, QSR has been loosely correlated with MCD. These tickers have moved in lockstep 54% of the time. This A.I.-generated data suggests there is some statistical probability that if QSR jumps, then MCD could also see price increases.