Denny’s (NASDAQ:DENN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
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 also recently commented on DENN. Wedbush restated a “buy” rating and set a $20.00 price objective on shares of Denny’s in a research note on Monday, February 11th. BidaskClub cut Denny’s from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, Maxim Group reissued a “buy” rating and issued a $21.00 price target on shares of Denny’s in a research note on Tuesday, January 15th. 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 an average price target of $19.00.
Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, February 12th. The restaurant operator reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The firm had revenue of $159.55 million during the quarter, compared to the consensus estimate of $158.85 million. Denny’s had a negative return on equity of 36.93% and a net margin of 6.93%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts predict that Denny’s will post 0.58 EPS for the current year.
In other news, EVP F Mark Wolfinger sold 7,500 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $17.88, for a total transaction of $134,100.00. Following the transaction, the executive vice president now owns 783,480 shares of the company’s stock, valued at approximately $14,008,622.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Miller sold 125,794 shares of the stock in a transaction dated Friday, February 22nd. The shares were 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 directly owns 587,158 shares in the company, valued at approximately $10,539,486.10. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Denny’s by 0.7% during the 4th quarter. BlackRock Inc. now owns 4,601,187 shares of the restaurant operator’s stock valued at $74,585,000 after purchasing an additional 32,980 shares during the period. Wells Fargo & Company MN increased its holdings in Denny’s by 6.7% in the third quarter. Wells Fargo & Company MN now owns 4,395,364 shares of the restaurant operator’s stock valued at $64,699,000 after purchasing an additional 275,159 shares during the period. Renaissance Technologies LLC increased its holdings in Denny’s by 0.8% in the third quarter. Renaissance Technologies LLC now owns 3,829,992 shares of the restaurant operator’s stock valued at $56,377,000 after purchasing an additional 31,492 shares during the period. Vanguard Group Inc increased its holdings in Denny’s by 1.6% in the third quarter. Vanguard Group Inc now owns 3,006,666 shares of the restaurant operator’s stock valued at $44,259,000 after purchasing an additional 47,047 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Denny’s by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,006,666 shares of the restaurant operator’s stock worth $44,259,000 after acquiring an additional 47,047 shares during the period. Hedge funds and other institutional investors own 90.29% 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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