Denny’s Corp. (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Denny’s Corp., formerly Advantica Restaurant Group, Inc., is one of the largest restaurant companies, operating moderately-priced restaurants: Denny’s, Hardee’s, Quincy’s, El Pollo Loco, Coco’s and Carrows. The company believes its restaurants benefit from the diversity of the restaurant concepts, the generally strong market positions and consumer recognition enjoyed by these chains, the benefits of a centralized support system for purchasing, menu development, human resources, management information systems, site selection, restaurant design and construction. “

Denny’s Corp. (NASDAQ:DENN) traded down 0.28% during midday trading on Tuesday, hitting $10.63. The company had a trading volume of 260,062 shares. The firm’s 50 day moving average is $10.62 and its 200-day moving average is $10.66. The firm has a market capitalization of $795.15 million, a P/E ratio of 53.42 and a beta of 0.48. Denny’s Corp. has a 52 week low of $8.71 and a 52 week high of $11.89.

Denny’s Corp. (NASDAQ:DENN) last posted its earnings results on Wednesday, August 3rd. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Denny’s Corp. had a net margin of 3.24% and a negative return on equity of 86.04%. The firm had revenue of $124.32 million for the quarter, compared to the consensus estimate of $125.78 million. During the same period in the previous year, the firm posted $0.11 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Denny’s Corp. will post $0.52 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Denny’s Corp. by 8.6% in the second quarter. Royal Bank of Canada now owns 9,341 shares of the company’s stock worth $100,000 after buying an additional 737 shares during the period. Paradigm Asset Management Co. LLC purchased a new position in shares of Denny’s Corp. during the second quarter valued at approximately $101,000. Victory Capital Management Inc. increased its position in shares of Denny’s Corp. by 77.2% in the second quarter. Victory Capital Management Inc. now owns 9,425 shares of the company’s stock valued at $101,000 after buying an additional 4,107 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Denny’s Corp. during the second quarter valued at approximately $110,000. Finally, Airain ltd purchased a new position in shares of Denny’s Corp. during the second quarter valued at approximately $111,000. Hedge funds and other institutional investors own 91.10% of the company’s stock.

About Denny’s Corp.

Denny’s Corporation (Denny’s) is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and company operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations.

5 Day Chart for NASDAQ:DENN

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