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5 Recession-Proof Restaurant Stocks

MINNEAPOLIS ( Stockpickr) -- So now we wait. A nice recovery rally has taken some off some of the sting from the selling, but stocks are still in correction mode. Economic data from here will tell us where we go next.

I'm mostly worried that the negative headlines will become a self-fulfilling prophecy. With such dependence on consumer spending, it is entirely possible that a freeze by consumers similar to a deer in the headlights will do real damage to this fragile recovery. Whatever transpires in the future, I'm pretty certain we all have to eat -- and many of us will do so at a restaurant.

In the spring, I analyzed five restaurant stocks, rating the picks buy, hold or sell. I had Buffalo Wild Wings (BWLD), a highflying casual restaurant with lots of growth potential, a hold. Shares are up 9% since I wrote the article. I also rated Chipotle Mexican Grill (CMG) a hold, and that stock is up 25%.

Related: 4 Low-Volatility Stocks for a Volatile Market

Two of my picks in that article were buy recommendations. Upscale steakhouse Morton's (MRT) is down 14% after getting hit particularly hard by the last few weeks of selling in the market. I also liked Red Robin Gourmet Burgers (RRGB), which is up 36% since my recommendation.

The one restaurant stock I didn't like and recommended to sell was P.F. Chang's (PFCB). Shares were expensive at that time, and expected operating performance was only modest at best. The stock is down 37%.

Looking forward and staring down the barrel of a double-dip recession, what restaurant stocks are likely to do well no matter what happens to the economy? Here are five restaurant stocks I would consider.

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