Denny’s Corporation (DENN) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Denny’s Corporation (NASDAQ:DENN) from a hold rating to a sell rating in a research note published 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 analysts have also commented on the company. BidaskClub lowered Denny’s Corporation from a sell rating to a strong sell rating in a report on Saturday, August 26th. Wedbush reaffirmed an outperform rating on shares of Denny’s Corporation in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Denny’s Corporation currently has an average rating of Hold and a consensus price target of $12.67.
Denny’s Corporation (NASDAQ DENN) opened at 11.75 on Tuesday. The stock’s 50 day moving average price is $11.87 and its 200-day moving average price is $11.98. The stock has a market capitalization of $789.31 million, a PE ratio of 23.04 and a beta of 0.58. Denny’s Corporation has a 52-week low of $10.02 and a 52-week high of $14.25.
Denny’s Corporation (NASDAQ:DENN) last posted its earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $133.40 million for the quarter, compared to analyst estimates of $131.62 million. Denny’s Corporation had a negative return on equity of 60.77% and a net margin of 7.34%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. On average, equities analysts expect that Denny’s Corporation will post $0.56 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in Denny’s Corporation by 5.1% in the first quarter. Bank of America Corp DE now owns 509,049 shares of the restaurant operator’s stock valued at $6,297,000 after purchasing an additional 24,487 shares during the period. Citadel Advisors LLC acquired a new stake in Denny’s Corporation in the first quarter valued at approximately $162,000. TFS Capital LLC acquired a new stake in Denny’s Corporation in the first quarter valued at approximately $489,000. Teza Capital Management LLC acquired a new stake in Denny’s Corporation in the first quarter valued at approximately $250,000. Finally, Cadence Capital Management LLC grew its holdings in Denny’s Corporation by 4.7% in the second quarter. Cadence Capital Management LLC now owns 135,000 shares of the restaurant operator’s stock valued at $1,589,000 after purchasing an additional 6,002 shares during the period. 92.45% of the stock is currently owned by institutional investors.
About Denny’s Corporation
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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