Jim Cramer on Dutch Bros: "You Buy Some and Then You Wait"

Dutch Bros Inc. (NYSE:BROS) is one of the stocks on Jim Cramer’s radar. A caller asked if Cramer thinks the stock is still a good investment going forward, and he replied:

“I think Dutch Bros, the decline is actually creating that opportunity now. It does have a very high price-to-earnings multiple. At the same time, I do feel that this is a growth company that’s going regional and national, and therefore, it can be bought right here. You buy some and then you wait till the 40s if it goes down there. And that’s the way I’d play it.”

Dutch Bros Inc. (NYSE:BROS) operates and franchises drive-thru coffee shops that provide beverages under the Dutch Bros and Blue Rebel brands. During the September 25 episode, a caller inquired about the stock, and Cramer replied:

“I like Dutch Bros. Now, let me tell you something about Dutch Bros. This stock has now come down from 86 to 53 as the speculative froth comes out of it. I would say buy some here and then buy some in the 40s, and I think you’ll be in very good shape. Don’t expect it to get back in the 30s. That’d be way, way too cheap.”

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Disclosure: None. This article is originally published at Insider Monkey.