Denny’s Corporation (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

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. “

Several other brokerages also recently weighed in on DENN. Wedbush reaffirmed a “buy” rating on shares of Denny’s Corporation in a research note on Tuesday, June 6th. BidaskClub downgraded Denny’s Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Nomura reaffirmed a “hold” rating and set a $12.00 target price on shares of Denny’s Corporation in a research note on Wednesday, May 3rd. Finally, Instinet reaffirmed a “neutral” rating and set a $12.00 target price (up previously from $11.00) on shares of Denny’s Corporation in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Denny’s Corporation has a consensus rating of “Hold” and a consensus price target of $12.50.

Shares of Denny’s Corporation (NASDAQ:DENN) traded down 1.54% on Thursday, reaching $12.12. The company had a trading volume of 459,621 shares. The company has a market capitalization of $814.16 million, a price-to-earnings ratio of 23.76 and a beta of 0.61. Denny’s Corporation has a 12 month low of $10.02 and a 12 month high of $14.25. The stock has a 50 day moving average price of $11.54 and a 200-day moving average price of $12.07.

Denny’s Corporation (NASDAQ:DENN) last announced its earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The business had revenue of $133.40 million for the quarter, compared to the consensus estimate of $131.62 million. Denny’s Corporation had a net margin of 7.34% and a negative return on equity of 64.79%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Analysts forecast that Denny’s Corporation will post $0.56 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Denny’s Corporation during the first quarter valued at about $119,000. Stevens Capital Management LP purchased a new position in shares of Denny’s Corporation during the first quarter valued at about $127,000. Koch Industries Inc. purchased a new position in shares of Denny’s Corporation during the first quarter valued at about $138,000. GW&K Investment Management LLC boosted its position in shares of Denny’s Corporation by 15.0% in the first quarter. GW&K Investment Management LLC now owns 11,540 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 1,505 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Denny’s Corporation by 5.8% in the first quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 666 shares during the period. Institutional investors own 89.24% of the company’s stock.

About Denny’s Corporation

Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.

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