With increasing numbers of people now venturing outdoors and back to eateries for dinner reunions with their favorite, succulent steaks, steakhouses are witnessing high foot traffic this year. Therefore, we believe Darden Restaurants (NYSE:DRI), Ruth’s Hospitality (RUTH), and The ONE Group Hospitality (NASDAQ:STKS), which specialize in serving steaks, could be solid bets now. That’s the sizzle, now read on for the meat.A succulent steak meal is often considered a classic dish that can be enjoyed year-round. Many restaurants and steakhouses offer a wide range of steaks based on shapes, cuts, textures. Animal and plant-based steaks with varieties of dishes make it one of the most versatile dishes, suitable for a small dinner or a large party.
While good-quality customized steaks are now available online thanks to the COVID-19 pandemic-driven adoption of online platforms by several restaurants and steakhouses, the pent-up demand to dine on steaks at eateries is helping steakhouses and restaurants generate high foot traffic.
Therefore we think restaurants that specialize in serving steaks, such as Darden Restaurants, Inc. (DRI), Ruth’s Hospitality Group, Inc. (RUTH), and The ONE Group Hospitality, Inc. (STKS), should benefit from this trend in the near term, especially during the holiday season. So, it could be wise to bet on these stocks now.