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Traders: These battered restaurants are still appetizing

A pair of restaurant stocks slumped after earnings Wednesday, and "Fast Money" traders discussed whether their shares were still appetizing.

Cheesecake Factory shares fell 2 percent in extended trading after the restaurant chain posted earnings of 68 cents per share on revenue of $553.7 million. Earnings beat analysts' expectations, while sales fell short.

Buffalo Wild Wings, meanwhile, plunged 10 percent in Wednesday's session after the company missed forecasts for both earnings and revenue.

Trader Guy Adami believes Cheesecake Factory shares will slide more, and he contended they are worth buying at around $48 per share. The stock traded at about $50 after the market close.

Trader Tim Seymour was not as optimistic but said the stock's valuation is "fine."

Seymour also argued Buffalo Wild Wings' price was "a little rich," even after the drubbing on Wednesday. However, trader Pete Najarian said he would buy on the dip.

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.

Pete Najarian

Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, MRK, PEP, PFE, SAVE, ZIOP Long Calls: AAL, ADX, AKS, AMJ, BAC, CL, DATA, EBAY, EGO, ENR, EWZ, F, HAIN, KBH, KMI, KO, MT, NLNK, SBUX, SLV, SPG, TCK, UAL, Long Puts: FCX, MS, PBR, VLO bought, FB, KATE calls sold XOM, KORS calls added to AAPL

Dan Nathan

Dan is long XLF may/ sept put spread. long PFE, long TWTR, long GE May 28 puts, long HYG June puts, long IWM May and September puts, long XHB June put spread, long XLE April/June put spread, FXI Long Aug Puts, SMH Long Aug puts, XLK long Sept put spread. TWTR long Sept risk reversal

Tim Seymour

Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN