SunTrust Banks began coverage on shares of Denny’s (NASDAQ:DENN) in a report issued on Tuesday, BenzingaRatingsTable reports. The firm issued a hold rating and a $21.00 price target on the restaurant operator’s stock. SunTrust Banks also issued estimates for Denny’s’ Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.72 EPS, FY2020 earnings at $0.90 EPS and FY2021 earnings at $0.98 EPS.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Denny’s from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Monday, December 2nd. Maxim Group raised Denny’s from a hold rating to a buy rating and increased their price target for the company from $23.00 to $26.00 in a report on Wednesday, December 4th. CL King initiated coverage on Denny’s in a report on Tuesday, October 1st. They issued a buy rating for the company. BidaskClub raised Denny’s from a strong sell rating to a sell rating in a report on Tuesday, December 3rd. Finally, Oppenheimer initiated coverage on Denny’s in a report on Thursday, September 19th. They issued an outperform rating and a $27.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $24.33.
DENN stock traded down $0.08 during mid-day trading on Tuesday, reaching $20.25. 53,740 shares of the company’s stock were exchanged, compared to its average volume of 463,997. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 3.32 and a beta of 0.05. The stock’s 50 day moving average is $20.04 and its 200 day moving average is $21.40. Denny’s has a 12-month low of $15.72 and a 12-month high of $23.88.
In related news, VP Stephen C. Dunn sold 58,332 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $19.51, for a total value of $1,138,057.32. Following the completion of the transaction, the vice president now directly owns 36,017 shares in the company, valued at $702,691.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of DENN. Tower Research Capital LLC TRC purchased a new position in Denny’s in the third quarter worth approximately $48,000. NumerixS Investment Technologies Inc purchased a new position in Denny’s in the second quarter worth approximately $51,000. Advisory Services Network LLC grew its position in Denny’s by 1,032.3% in the second quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock worth $72,000 after acquiring an additional 3,200 shares during the period. First Quadrant L P CA purchased a new position in Denny’s in the third quarter worth approximately $82,000. Finally, Bank of Montreal Can grew its position in Denny’s by 2,529.0% in the second quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock worth $104,000 after acquiring an additional 4,881 shares during the period. Institutional investors own 90.63% 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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