Denny's Co. (DENN) Downgraded by BidaskClub to “Strong Sell”
BidaskClub lowered shares of Denny's Co. (NASDAQ:DENN) from a sell rating to a strong sell rating in a research report released on Saturday morning.
Several other analysts have also recently commented on the stock. Wedbush reaffirmed a buy rating on shares of Denny's Co. in a research note on Tuesday, June 6th. Nomura reaffirmed a hold rating and issued a $12.00 target price on shares of Denny's Co. in a research note on Wednesday, May 3rd. Instinet reaffirmed a neutral rating and issued a $12.00 target price (up from $11.00) on shares of Denny's Co. in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research cut shares of Denny's Co. from a hold rating to a sell rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $12.67.
Denny's Co. (DENN) traded down 0.43% during midday trading on Friday, hitting $11.69. The stock had a trading volume of 276,820 shares. The firm has a 50-day moving average of $11.81 and a 200-day moving average of $12.06. Denny's Co. has a 12-month low of $10.02 and a 12-month high of $14.25. The company has a market cap of $785.28 million, a PE ratio of 22.92 and a beta of 0.61.
Denny's Co. (NASDAQ:DENN) last released its earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $133.40 million for the quarter, compared to analysts’ expectations of $131.62 million. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities research analysts forecast that Denny's Co. will post $0.56 EPS for the current year.
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Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Denny's Co. by 68.3% in the second quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 4,041 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Denny's Co. during the first quarter valued at about $119,000. Stevens Capital Management LP bought a new stake in shares of Denny's Co. during the first quarter valued at about $127,000. BNP Paribas Arbitrage SA boosted its stake in shares of Denny's Co. by 939.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock valued at $134,000 after buying an additional 10,282 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Denny's Co. during the first quarter valued at about $138,000. 92.55% of the stock is owned by institutional investors.
Denny's Co. Company Profile
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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