Zacks Investment Research upgraded shares of Denny’s (NASDAQ:DENN) from a sell rating to a hold rating in a report issued on Wednesday.
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 equities research analysts also recently weighed in on DENN. BidaskClub downgraded Denny’s from a buy rating to a hold rating in a report on Tuesday, December 4th. Wedbush restated a buy rating and set a $20.00 price target on shares of Denny’s in a report on Monday, February 11th. Finally, Maxim Group began coverage on Denny’s in a report on Tuesday, December 11th. They set a buy rating and a $21.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $19.00.
Shares of NASDAQ DENN opened at $17.84 on Wednesday. Denny’s has a 1-year low of $13.32 and a 1-year high of $18.94. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 26.24 and a beta of 0.17.
Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, February 12th. The restaurant operator reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Denny’s had a negative return on equity of 36.93% and a net margin of 6.93%. The company had revenue of $159.55 million for the quarter, compared to the consensus estimate of $158.85 million. During the same quarter in the prior year, the business earned $0.18 EPS. Denny’s’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts expect that Denny’s will post 0.58 earnings per share for the current year.
In other news, CEO John C. Miller sold 125,794 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $17.95, for a total value of $2,258,002.30. Following the transaction, the chief executive officer now owns 587,158 shares in the company, valued at approximately $10,539,486.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP F Mark Wolfinger sold 7,500 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $17.88, for a total value of $134,100.00. Following the completion of the transaction, the executive vice president now owns 783,480 shares in the company, valued at approximately $14,008,622.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,294 shares of company stock worth $2,604,262. 5.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC purchased a new position in shares of Denny’s in the 4th quarter valued at about $172,000. Legal & General Group Plc increased its holdings in shares of Denny’s by 13.1% in the 4th quarter. Legal & General Group Plc now owns 11,033 shares of the restaurant operator’s stock valued at $179,000 after acquiring an additional 1,280 shares during the last quarter. Ibex Investors LLC purchased a new position in shares of Denny’s in the 4th quarter valued at about $211,000. Lido Advisors LLC purchased a new position in shares of Denny’s in the 4th quarter valued at about $221,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Denny’s in the 4th quarter valued at about $236,000. Institutional investors and hedge funds own 91.61% 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 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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