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Bob Evans Farms: Small-Cap Diamond In The Rough?
- The conclusion of BOBE's multi-year remodeling of the chain’s 560 restaurants is imminent, and the period of significant capital expenditures is drawing to a close.
- Consolidation in the prepared food aspect of the business should decrease costs and increase efficiency.
- With decreasing costs & increasing margins, BOBE is also primed for a move upwards with not only activists at the gates, but a combined Institutional and Insider Ownership of 98%.
- 20%-30% upside would not be unreasonable in the next 12-18 months.