This version of the Weekend Research will focus on the beaten down restaurant stocks. Following discussions of a competitive environment at the ICR 2017 conference, most of the restaurant stocks took a step down towards the lows. What the market found was that the restaurant stocks were still generally on the weak paths of the last few quarters. As the sector goes through the cycle trough opportunities will eventually occur as the weak competitors close down stores and leave the strong to thrive. Some of the top picks:Zoe's Kitchen (ZOES) - the Mediterranean-inspired restaurant concept trades roughly 50% off the 2015 highs. The stock now trades below $22 despite only slight lowering 2H estimates. The concept ended 2016 with 204 stores and doubled in the last four years leaving a very young store base. The stock is only worth $426 million with '17 revenue estimates at $330 million. Look for strong support above $20 as an entry point. Maturing stores over the next few years will improve the profitability metrics. Habit Restaurants (HABT) - the burger joint rated as the top burger by Consumer Reports back in 2015 trades near the all-time lows. Despite getting a top pick from Stifel Nicolaus due to segment-leading unit growth potential, Habit has a market cap of $488 million with '17 revenue estimated above $340 million. Back down at $15.50, the stock probably retests the $14 range again before any rally this year. Noodles & Company (NDLS) - the beaten down noodles company remains a high-risk play on a turnaround. At a market value of $120 million, the restaurant stock trades far below the targeted '17 revenues of $500 million. New initiatives including a reduced menu and improved online ordering could get the company back to positive comps and eventually profits. Noodles was an IPO darling back in 2013 offering a 1,000% gain, if the stock was to return to previous highs. Step one is for the company to meet analyst targets and signal management has a grasp on the business. Chipotle Mexican Grill (CMG) - remains the darling in the restaurant sector despite the health scare and another big warning for Q4. The market loved the positive Dec. comps, but the stock isn't worth over $400 with an EPS hard pressed to reach $10 this year. As Raymond James suggest, the risk is a downside below $300 while the reward is an upside equivalent to a few dollars above the current price. Click on the Sign in/Sign up button in the top right corner to join for free to comment on your stock moves for the extended weekend and enter the discussion. Click on the Follow button to get the daily blog posts from Out Fox The $treet. Disclosure: Long ZOES