Denny’s (NASDAQ:DENN) Downgraded to Hold at Zacks Investment Research

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Denny’s (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, reports.

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 have also issued reports on DENN. Oppenheimer reiterated a “buy” rating and set a $27.00 price target on shares of Denny’s in a research report on Tuesday. Maxim Group upgraded Denny’s from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, December 4th. ValuEngine lowered Denny’s from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub downgraded Denny’s from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, SunTrust Banks started coverage on Denny’s in a research note on Tuesday, December 10th. They issued a “hold” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.67.

DENN stock traded up $0.15 during trading on Friday, reaching $20.15. 590,340 shares of the company’s stock were exchanged, compared to its average volume of 424,026. Denny’s has a 1-year low of $16.74 and a 1-year high of $23.88. The company’s fifty day moving average price is $20.63 and its 200-day moving average price is $21.34. The firm has a market cap of $1.19 billion, a PE ratio of 11.38, a P/E/G ratio of 2.87 and a beta of 0.08.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, February 11th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. Denny’s had a negative return on equity of 34.15% and a net margin of 18.80%. The company had revenue of $113.84 million during the quarter, compared to analyst estimates of $109.17 million. On average, analysts anticipate that Denny’s will post 0.71 earnings per share for the current year.

In other news, VP Stephen C. Dunn sold 58,332 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $19.51, for a total value of $1,138,057.32. Following the sale, the vice president now owns 36,017 shares of the company’s stock, valued at approximately $702,691.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of DENN. Tower Research Capital LLC TRC bought a new stake in shares of Denny’s in the 3rd quarter worth $48,000. Islay Capital Management LLC acquired a new stake in shares of Denny’s during the fourth quarter worth $64,000. Great West Life Assurance Co. Can acquired a new stake in shares of Denny’s during the fourth quarter worth $71,000. First Quadrant L P CA acquired a new stake in shares of Denny’s during the third quarter worth $82,000. Finally, Marshall Wace LLP acquired a new stake in shares of Denny’s during the fourth quarter worth $88,000. 90.35% of the stock is currently owned by institutional investors.

About Denny’s

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.

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