"AFC preannounced back in January, and although results were broadly consistent with that preannouncement, AFC's store growth for the quarter came in at the low end of expectations," Cramer explained. "Also, the company gave disappointing guidance for 2013."
Although developments are negative, Cramer isn't sure they warranted a 5% decline. Yet that's how the stock closed on Thursday - down 5% in one day.
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"I've been a fan of AFC Enterprises for some time now because this company has been turning itself around," he said. "If you still believe in the turnaround story, then you have to view this weakness as a rare buying opportunity," he said. "Typically you don't get a stock like this at a discount."