Denny’s (DENN) Raised to “Buy” at BidaskClub

Denny’s (NASDAQ:DENN) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the company. Wedbush reissued a “buy” rating and set a $21.00 price objective on shares of Denny’s in a report on Monday. Zacks Investment Research raised Denny’s from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, May 3rd. Finally, Maxim Group reissued a “buy” rating on shares of Denny’s in a report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $20.00.

NASDAQ DENN opened at $19.44 on Wednesday. Denny’s has a twelve month low of $13.32 and a twelve month high of $20.41. The firm has a market cap of $1.17 billion, a P/E ratio of 28.59 and a beta of 0.17.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Denny’s had a negative return on equity of 34.51% and a net margin of 7.89%. The company had revenue of $151.41 million for the quarter, compared to the consensus estimate of $149.01 million. During the same quarter last year, the business posted $0.15 EPS. Denny’s’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts forecast that Denny’s will post 0.61 earnings per share for the current year.

In other Denny’s news, VP Stephen C. Dunn sold 12,000 shares of Denny’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $17.68, for a total transaction of $212,160.00. Following the transaction, the vice president now directly owns 99,199 shares of the company’s stock, valued at approximately $1,753,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert P. Verostek sold 5,474 shares of Denny’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $18.13, for a total value of $99,243.62. Following the transaction, the insider now directly owns 8,773 shares in the company, valued at $159,054.49. The disclosure for this sale can be found here. Insiders have sold a total of 58,484 shares of company stock worth $1,095,267 over the last ninety days. Company insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in DENN. Morgan Stanley lifted its holdings in Denny’s by 9.9% during the 3rd quarter. Morgan Stanley now owns 155,400 shares of the restaurant operator’s stock worth $2,287,000 after buying an additional 13,987 shares during the period. Vanguard Group Inc. lifted 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 buying an additional 47,047 shares during the period. Vanguard Group Inc lifted 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 buying an additional 47,047 shares during the period. Assenagon Asset Management S.A. acquired a new position in Denny’s during the 4th quarter worth about $2,296,000. Finally, Rhumbline Advisers lifted its holdings in Denny’s by 45.0% during the 4th quarter. Rhumbline Advisers now owns 87,920 shares of the restaurant operator’s stock worth $1,425,000 after buying an additional 27,290 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

About Denny’s

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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