Denny’s Corporation (DENN) Cut to “Sell” at Zacks Investment Research

Denny’s Corporation (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, November 7th.

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 weighed in on DENN. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Denny’s Corporation in a research report on Sunday, July 30th. BidaskClub cut Denny’s Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet raised Denny’s Corporation from a “c+” rating to a “b-” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $12.67.

Denny’s Corporation (NASDAQ DENN) opened at $12.67 on Tuesday. The firm has a market capitalization of $827.13, a price-to-earnings ratio of 22.23 and a beta of 0.57. The company has a debt-to-equity ratio of -2.95, a quick ratio of 0.36 and a current ratio of 0.40. Denny’s Corporation has a one year low of $10.87 and a one year high of $14.25.

Denny’s Corporation (NASDAQ:DENN) last issued its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Denny’s Corporation had a negative return on equity of 52.30% and a net margin of 7.21%. The business had revenue of $132.38 million during the quarter, compared to analysts’ expectations of $133.58 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts predict that Denny’s Corporation will post 0.55 earnings per share for the current year.

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In related news, VP Stephen C. Dunn sold 5,111 shares of Denny’s Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $11.89, for a total transaction of $60,769.79. Following the completion of the transaction, the vice president now directly owns 93,179 shares in the company, valued at approximately $1,107,898.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DENN. UBS Asset Management Americas Inc. lifted its holdings in shares of Denny’s Corporation by 40.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 38,046 shares of the restaurant operator’s stock valued at $471,000 after acquiring an additional 10,950 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Denny’s Corporation by 19.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 95,585 shares of the restaurant operator’s stock worth $1,182,000 after buying an additional 15,552 shares in the last quarter. SG Americas Securities LLC acquired a new position in Denny’s Corporation in the 1st quarter worth $119,000. Teachers Advisors LLC lifted its holdings in Denny’s Corporation by 1.9% in the 1st quarter. Teachers Advisors LLC now owns 813,048 shares of the restaurant operator’s stock worth $10,057,000 after buying an additional 14,986 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Denny’s Corporation by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 615,727 shares of the restaurant operator’s stock worth $7,616,000 after buying an additional 6,294 shares in the last quarter. 93.59% of the stock is 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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