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.

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 also recently commented on the stock. BidaskClub downgraded shares of Denny’s Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Denny’s Corporation in a report on Sunday, July 30th. Finally, TheStreet raised shares of Denny’s Corporation from a “c+” rating to a “b-” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Denny’s Corporation presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Denny’s Corporation (DENN) traded down $0.31 during mid-day trading on Tuesday, hitting $12.31. 231,150 shares of the stock traded hands, compared to its average volume of 285,867. The stock has a market cap of $810.16, a P/E ratio of 22.53 and a beta of 0.57. The company has a debt-to-equity ratio of -2.95, a current ratio of 0.40 and a quick ratio of 0.36. Denny’s Corporation has a fifty-two week low of $10.87 and a fifty-two week high of $14.25.

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

Denny’s Corporation announced that its Board of Directors has initiated a share buyback program on Tuesday, October 31st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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In related news, VP Stephen C. Dunn sold 5,111 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total transaction of $60,769.79. Following the sale, the vice president now directly owns 93,179 shares of the company’s stock, valued at $1,107,898.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in DENN. Renaissance Technologies LLC boosted its holdings in Denny’s Corporation by 9.8% during the second quarter. Renaissance Technologies LLC now owns 3,946,911 shares of the restaurant operator’s stock worth $46,455,000 after buying an additional 352,600 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Denny’s Corporation during the second quarter worth $3,997,000. Lord Abbett & CO. LLC boosted its holdings in Denny’s Corporation by 8.0% during the second quarter. Lord Abbett & CO. LLC now owns 1,537,141 shares of the restaurant operator’s stock worth $18,092,000 after buying an additional 114,365 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in Denny’s Corporation by 146.1% during the second quarter. Susquehanna International Group LLP now owns 190,837 shares of the restaurant operator’s stock worth $2,246,000 after buying an additional 113,284 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Denny’s Corporation by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,420,479 shares of the restaurant operator’s stock worth $29,941,000 after buying an additional 88,086 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other 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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