Denny’s Corporation (DENN) Rating Lowered to Sell at Zacks Investment Research
Denny’s Corporation (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
DENN has been the topic of a number of other research reports. Wedbush restated an “outperform” rating on shares of Denny’s Corporation in a report on Tuesday, August 8th. BidaskClub downgraded Denny’s Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.67.
Denny’s Corporation (NASDAQ:DENN) traded up 1.56% during mid-day trading on Tuesday, hitting $11.75. 244,681 shares of the stock traded hands. Denny’s Corporation has a 1-year low of $10.02 and a 1-year high of $14.25. The firm has a market cap of $789.31 million, a price-to-earnings ratio of 23.04 and a beta of 0.58. The stock has a 50-day moving average of $11.87 and a 200 day moving average of $11.98.
Denny’s Corporation (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s Corporation had a negative return on equity of 60.77% and a net margin of 7.34%. The firm had revenue of $133.40 million during the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the prior year, the company posted $0.13 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that Denny’s Corporation will post $0.56 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Denny’s Corporation during the first quarter worth approximately $119,000. PNC Financial Services Group Inc. boosted its position in Denny’s Corporation by 68.3% during the second quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock worth $116,000 after purchasing an additional 4,041 shares during the period. Stevens Capital Management LP bought a new stake in Denny’s Corporation during the first quarter worth approximately $127,000. Koch Industries Inc. bought a new stake in Denny’s Corporation during the first quarter worth approximately $138,000. Finally, BNP Paribas Arbitrage SA boosted its position in Denny’s Corporation by 939.9% during the second quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 10,282 shares during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.
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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