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

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Zacks Investment Research downgraded shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research report released on Monday, Zacks.com 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. “

Several other brokerages have also recently issued reports on DENN. BidaskClub raised shares of Denny’s from a hold rating to a buy rating in a research note on Thursday, August 8th. Maxim Group set a $21.00 price objective on shares of Denny’s and gave the company a hold rating in a research note on Wednesday, July 31st. Finally, Wedbush set a $25.00 price objective on shares of Denny’s and gave the company a buy rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $21.00.

Shares of NASDAQ DENN opened at $23.49 on Monday. Denny’s has a 12-month low of $13.32 and a 12-month high of $23.65. The stock has a market cap of $1.38 billion, a PE ratio of 32.68 and a beta of 0.16. The company has a 50-day moving average of $22.10 and a 200 day moving average of $19.58.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Denny’s had a net margin of 11.60% and a negative return on equity of 34.91%. The company had revenue of $151.90 million during the quarter, compared to analysts’ expectations of $148.85 million. During the same quarter in the prior year, the company earned $0.18 EPS. Denny’s’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Denny’s will post 0.65 earnings per share for the current fiscal year.

In other Denny’s news, CFO F Mark Wolfinger sold 30,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $20.71, for a total value of $621,300.00. Following the transaction, the chief financial officer now directly owns 783,480 shares in the company, valued at approximately $16,225,870.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 107,550 shares of company stock worth $2,225,385 over the last quarter. 6.10% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of DENN. Mesirow Financial Investment Management Equity Management acquired a new position in Denny’s in the 2nd quarter valued at about $50,000. NumerixS Investment Technologies Inc acquired a new position in Denny’s in the 2nd quarter valued at about $51,000. Advisory Services Network LLC boosted its holdings in Denny’s by 1,032.3% in the 2nd quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock valued at $72,000 after purchasing an additional 3,200 shares during the last quarter. Bank of Montreal Can boosted its holdings in Denny’s by 2,529.0% in the 2nd quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock valued at $104,000 after purchasing an additional 4,881 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Denny’s in the 2nd quarter valued at about $129,000. Institutional investors own 91.26% of the company’s stock.

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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