Denny’s Corporation (DENN) Rating Increased to Hold at Zacks Investment Research
Denny’s Corporation (NASDAQ:DENN) was upgraded by Zacks Investment Research from a “sell” 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. “
A number of other equities research analysts have also recently commented on the company. BidaskClub cut Denny’s Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Wedbush reiterated an “outperform” rating on shares of Denny’s Corporation in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Denny’s Corporation currently has an average rating of “Hold” and a consensus target price of $12.67.
Shares of Denny’s Corporation (NASDAQ:DENN) opened at 12.76 on Tuesday. Denny’s Corporation has a 12-month low of $10.02 and a 12-month high of $14.25. The company has a market capitalization of $857.15 million, a P/E ratio of 25.02 and a beta of 0.60. The company has a 50-day moving average price of $12.01 and a 200 day moving average price of $11.95.
Denny’s Corporation (NASDAQ:DENN) last released its quarterly earnings results 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 net margin of 7.34% and a negative return on equity of 60.77%. The business had revenue of $133.40 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Denny’s Corporation will post $0.56 earnings per share for the current fiscal year.
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In other Denny’s Corporation news, VP Stephen C. Dunn sold 5,111 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the sale, the vice president now directly owns 93,179 shares in the company, valued at $1,107,898.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of Denny’s Corporation by 277.9% in the first quarter. First Trust Advisors LP now owns 153,222 shares of the restaurant operator’s stock valued at $1,895,000 after purchasing an additional 112,674 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Denny’s Corporation by 40.4% in the first quarter. UBS Asset Management Americas Inc. now owns 38,046 shares of the restaurant operator’s stock valued at $471,000 after purchasing an additional 10,950 shares during the period. Karp Capital Management Corp acquired a new position in shares of Denny’s Corporation in the first quarter valued at about $315,000. Parametric Portfolio Associates LLC increased its holdings in shares of Denny’s Corporation by 19.4% in the first quarter. Parametric Portfolio Associates LLC now owns 95,585 shares of the restaurant operator’s stock valued at $1,182,000 after purchasing an additional 15,552 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Denny’s Corporation in the first quarter valued at about $127,000. Institutional investors own 92.42% of the company’s stock.
Denny’s Corporation Company Profile
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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