Denny’s (NASDAQ:DENN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Denny’s (NASDAQ:DENNGet Rating) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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. “

A number of other research firms have also commented on DENN. StockNews.com began coverage on Denny’s in a research report on Thursday, March 31st. They issued a hold rating on the stock. Citigroup began coverage on Denny’s in a research report on Tuesday, April 12th. They issued a neutral rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Denny’s presently has a consensus rating of Buy and an average price target of $18.25.

Shares of DENN stock opened at $11.31 on Wednesday. The firm has a market capitalization of $697.94 million, a P/E ratio of 9.50, a P/E/G ratio of 2.12 and a beta of 1.59. Denny’s has a twelve month low of $10.87 and a twelve month high of $18.92. The stock’s fifty day simple moving average is $13.87 and its 200 day simple moving average is $14.88.

Denny’s (NASDAQ:DENNGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Denny’s had a negative return on equity of 37.11% and a net margin of 19.61%. The firm had revenue of $103.10 million for the quarter, compared to the consensus estimate of $102.13 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue was up 27.9% on a year-over-year basis. On average, sell-side analysts anticipate that Denny’s will post 0.7 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Denny’s by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,064,510 shares of the restaurant operator’s stock worth $131,774,000 after buying an additional 20,964 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Denny’s during the 4th quarter worth approximately $106,008,000. Wellington Management Group LLP raised its stake in Denny’s by 69.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,870,874 shares of the restaurant operator’s stock worth $79,590,000 after buying an additional 1,996,160 shares during the period. FMR LLC raised its stake in Denny’s by 102.6% during the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after buying an additional 1,211,020 shares during the period. Finally, Brown Advisory Inc. raised its stake in Denny’s by 12.1% during the 4th quarter. Brown Advisory Inc. now owns 2,167,562 shares of the restaurant operator’s stock worth $34,681,000 after buying an additional 233,884 shares during the period.

About Denny’s (Get Rating)

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 29, 2021, it had 1,640 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

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