Denny’s’ (DENN) “Buy” Rating Reiterated at Maxim Group
Maxim Group restated their buy rating on shares of Denny’s (NASDAQ:DENN) in a research report sent to investors on Friday, AnalystRatings.com reports. The brokerage currently has a $21.00 price target on the restaurant operator’s stock.
“We maintain our Buy rating and $21 price target on Denny’s (DENN) following the investor meetings we hosted with management in Milwaukee earlier this week.”,” Maxim Group’s analyst commented.
DENN has been the subject of several other reports. Zacks Investment Research raised shares of Denny’s from a sell rating to a hold rating in a report on Friday, February 22nd. BidaskClub raised shares of Denny’s from a hold rating to a buy rating in a report on Wednesday. Finally, Wedbush reissued a buy rating and issued a $20.00 target price on shares of Denny’s in a report on Monday, February 11th. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $20.00.
Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, April 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $151.41 million during the quarter, compared to analyst estimates of $149.01 million. Denny’s had a net margin of 7.89% and a negative return on equity of 34.51%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. As a group, analysts predict that Denny’s will post 0.61 earnings per share for the current fiscal year.
In other Denny’s news, EVP F Mark Wolfinger sold 7,450 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $18.47, for a total value of $137,601.50. Following the completion of the transaction, the executive vice president now directly owns 779,630 shares in the company, valued at approximately $14,399,766.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 9,968 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $19.23, for a total value of $191,684.64. The disclosure for this sale can be found here. Insiders sold a total of 58,484 shares of company stock valued at $1,095,267 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of DENN. FMR LLC boosted its stake in Denny’s by 102.6% in the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after purchasing an additional 1,211,020 shares during the period. Monarch Partners Asset Management LLC bought a new position in Denny’s in the 1st quarter worth approximately $8,827,000. Millennium Management LLC boosted its stake in Denny’s by 189.5% in the 4th quarter. Millennium Management LLC now owns 462,051 shares of the restaurant operator’s stock worth $7,490,000 after purchasing an additional 302,473 shares during the period. Nomura Holdings Inc. bought a new position in Denny’s in the 4th quarter worth approximately $3,480,000. Finally, Assenagon Asset Management S.A. bought a new position in Denny’s in the 4th quarter worth approximately $2,296,000. Institutional investors and hedge funds own 94.44% of the company’s stock.
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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