Denny’s (DENN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Denny’s (NASDAQ:DENN) from a sell rating to a hold rating in a research report sent to investors 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. “
A number of other brokerages also recently commented on DENN. BidaskClub downgraded shares of Denny’s from a buy rating to a hold rating in a research note on Saturday, September 15th. Stephens raised shares of Denny’s from an equal rating to a weight rating and lifted their target price for the stock from $16.50 to $17.00 in a research note on Wednesday, October 31st. ValuEngine raised shares of Denny’s from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, Maxim Group started coverage on shares of Denny’s in a research note on Tuesday, December 11th. They set a buy rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $18.25.
Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $158.00 million for the quarter, compared to analyst estimates of $159.28 million. Denny’s had a negative return on equity of 40.31% and a net margin of 7.48%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Equities analysts anticipate that Denny’s will post 0.68 EPS for the current year.
In other news, VP Timothy E. Flemming sold 43,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $17.24, for a total value of $751,664.00. Following the sale, the vice president now directly owns 161,791 shares of the company’s stock, valued at approximately $2,789,276.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP F Mark Wolfinger sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $16.90, for a total transaction of $236,600.00. Following the completion of the sale, the executive vice president now directly owns 722,394 shares in the company, valued at $12,208,458.60. The disclosure for this sale can be found here. Insiders sold a total of 79,100 shares of company stock worth $1,347,299 over the last three months. Insiders own 5.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in DENN. Schwab Charles Investment Management Inc. grew its holdings in shares of Denny’s by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 337,482 shares of the restaurant operator’s stock valued at $5,377,000 after purchasing an additional 8,598 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Denny’s by 4.6% in the second quarter. BlackRock Inc. now owns 4,575,232 shares of the restaurant operator’s stock valued at $72,883,000 after purchasing an additional 201,003 shares in the last quarter. FMR LLC grew its holdings in shares of Denny’s by 10.3% in the second quarter. FMR LLC now owns 1,221,590 shares of the restaurant operator’s stock valued at $19,460,000 after purchasing an additional 114,500 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Denny’s by 46.4% in the second quarter. First Republic Investment Management Inc. now owns 22,882 shares of the restaurant operator’s stock valued at $365,000 after purchasing an additional 7,252 shares in the last quarter. Finally, Castleark Management LLC grew its holdings in shares of Denny’s by 13.3% in the second quarter. Castleark Management LLC now owns 364,210 shares of the restaurant operator’s stock valued at $5,802,000 after purchasing an additional 42,653 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Denny’s Company Profile
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of September 26, 2018, it had 1,715 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.
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