Denny’s (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. ValuEngine upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Thursday. Stephens downgraded Denny’s from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $18.00 to $16.50 in a research note on Wednesday, September 12th. Finally, Wedbush cut their price target on Denny’s from $18.50 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.33.
NASDAQ DENN opened at $16.74 on Friday. Denny’s has a one year low of $12.09 and a one year high of $18.16. The stock has a market capitalization of $1.05 billion, a P/E ratio of 24.62 and a beta of 0.14.
Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $158.00 million during the quarter, compared to the consensus estimate of $159.28 million. Denny’s had a negative return on equity of 40.31% and a net margin of 7.48%. Denny’s’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, analysts predict that Denny’s will post 0.68 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the business. Cadence Capital Management LLC grew its stake in shares of Denny’s by 20.1% during the 3rd quarter. Cadence Capital Management LLC now owns 189,233 shares of the restaurant operator’s stock valued at $2,786,000 after purchasing an additional 31,687 shares during the period. Wells Fargo & Company MN grew its stake in shares of Denny’s by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 4,395,364 shares of the restaurant operator’s stock valued at $64,699,000 after acquiring an additional 275,159 shares during the period. Engineers Gate Manager LP bought a new position in shares of Denny’s during the 3rd quarter valued at approximately $446,000. State Board of Administration of Florida Retirement System grew its stake in shares of Denny’s by 15.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 191,775 shares of the restaurant operator’s stock valued at $2,823,000 after acquiring an additional 25,345 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Denny’s by 40.9% during the 3rd quarter. Acadian Asset Management LLC now owns 402,019 shares of the restaurant operator’s stock valued at $5,917,000 after acquiring an additional 116,674 shares during the period. Institutional investors and hedge funds own 89.74% of the company’s stock.
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 27, 2017, it had 1,735 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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