Zacks Investment Research lowered shares of Denny’s Corporation (NASDAQ:DENN) from a hold rating to a sell rating in a report released on Tuesday morning.

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 research firms have also issued reports on DENN. BidaskClub lowered shares of Denny’s Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. Wedbush reissued an outperform rating and issued a $14.00 price target on shares of Denny’s Corporation in a research report on Sunday, July 30th. Finally, TheStreet raised shares of Denny’s Corporation from a c+ rating to a b- rating in a research note on Monday, October 16th. Two equities 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 company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $12.67.

Shares of Denny’s Corporation (NASDAQ DENN) traded up $0.07 during mid-day trading on Tuesday, reaching $12.30. 161,006 shares of the company’s stock traded hands, compared to its average volume of 336,815. Denny’s Corporation has a twelve month low of $10.87 and a twelve month high of $14.25. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of -2.95. The company has a market capitalization of $801.67, a price-to-earnings ratio of 21.46 and a beta of 0.57.

Denny’s Corporation (NASDAQ:DENN) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Denny’s Corporation had a net margin of 7.21% and a negative return on equity of 52.30%. The company had revenue of $132.38 million for the quarter, compared to analyst estimates of $133.58 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. analysts expect that Denny’s Corporation will post 0.55 earnings per share for the current year.

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Denny’s Corporation declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 31st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

In related news, VP Stephen C. Dunn sold 5,111 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total transaction of $60,769.79. Following the completion of the transaction, the vice president now owns 93,179 shares of the company’s stock, valued at $1,107,898.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake 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 valued at $116,000 after acquiring an additional 4,041 shares in the last quarter. SG Americas Securities LLC purchased a new position in Denny’s Corporation during the first quarter valued at approximately $119,000. LMR Partners LLP purchased a new position in Denny’s Corporation during the third quarter valued at approximately $127,000. BNP Paribas Arbitrage SA grew its stake 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 valued at $134,000 after acquiring an additional 10,282 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in Denny’s Corporation by 5.8% during the first quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock valued at $150,000 after acquiring an additional 666 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

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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