Denny’s (NASDAQ:DENN) Cut to Hold at BidaskClub

BidaskClub lowered shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.

Several other analysts have also recently issued reports on the company. Maxim Group set a $21.00 target price on Denny’s and gave the company a hold rating in a research report on Wednesday, July 31st. Wedbush set a $25.00 target price on Denny’s and gave the company a buy rating in a research report on Friday, August 16th. Finally, Zacks Investment Research cut Denny’s from a buy rating to a hold rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $21.00.

Shares of NASDAQ DENN opened at $22.47 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of 33.04 and a beta of 0.17. The stock’s fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $20.23. Denny’s has a 12-month low of $13.32 and a 12-month high of $23.88.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $151.90 million for the quarter, compared to analysts’ expectations of $148.85 million. Denny’s had a negative return on equity of 34.91% and a net margin of 11.60%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. As a group, analysts forecast that Denny’s will post 0.65 EPS for the current year.

In other news, COO Christopher D. Bode sold 50,488 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $23.53, for a total transaction of $1,187,982.64. Following the completion of the sale, the chief operating officer now owns 56,196 shares in the company, valued at approximately $1,322,291.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO F Mark Wolfinger sold 3,816 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $22.82, for a total value of $87,081.12. Following the sale, the chief financial officer now owns 779,796 shares of the company’s stock, valued at approximately $17,794,944.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,146 shares of company stock valued at $4,521,833. Company insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Hancock Whitney Corp lifted its holdings in shares of Denny’s by 2.3% during the 2nd quarter. Hancock Whitney Corp now owns 46,595 shares of the restaurant operator’s stock valued at $957,000 after purchasing an additional 1,045 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Denny’s during the 2nd quarter valued at $1,292,000. Voloridge Investment Management LLC purchased a new stake in shares of Denny’s during the 2nd quarter valued at $415,000. Nuveen Asset Management LLC purchased a new stake in shares of Denny’s during the 2nd quarter valued at $5,743,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Denny’s by 9.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,995 shares of the restaurant operator’s stock valued at $1,273,000 after purchasing an additional 5,234 shares during the last quarter. Hedge funds and other institutional investors own 90.27% 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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