The stock of Denny’s Corporation (NASDAQ:DENN) hit a new 52-week high and has $17.71 target or 44.00% above today’s $12.30 share price. The 7 months bullish chart indicates low risk for the $929.16 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $17.71 price target is reached, the company will be worth $408.83M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 415,030 shares traded hands or 14.81% up from the average. Denny’s Corporation (NASDAQ:DENN) has risen 17.75% since April 11, 2016 and is uptrending. It has outperformed by 11.60% the S&P500.
Denny’s Corporation (NASDAQ:DENN) Ratings Coverage
Out of 4 analysts covering Denny’s Co. (NASDAQ:DENN), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Denny’s Co. has been the topic of 9 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Positive” rating by Longbow given on Friday, August 21. The rating was maintained by Longbow with “Positive” on Monday, August 24. The firm earned “Neutral” rating on Wednesday, April 20 by Nomura. The firm earned “Buy” rating on Tuesday, August 4 by Zacks. The company was maintained on Saturday, August 29 by Wedbush. The rating was maintained by Wedbush on Tuesday, May 3 with “Outperform”. The rating was maintained by Stephens with “Equal-Weight” on Tuesday, January 12.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q2. Its down 0.22, from 0.97 in 2016Q1. The ratio dropped, as 19 funds sold all Denny’s Corporation shares owned while 57 reduced positions. 16 funds bought stakes while 41 increased positions. They now own 66.97 million shares or 2.10% less from 68.41 million shares in 2016Q1.
Hutchin Hill Lp holds 0% or 13,500 shares in its portfolio. Aqr Cap Management Lc holds 260,144 shares or 0% of its portfolio. Cubist Systematic Strategies Ltd Liability Corp, a Connecticut-based fund reported 18,817 shares. First Trust Lp has 0% invested in the company for 96,442 shares. 1St Global holds 12,900 shares or 0.02% of its portfolio. Lord Abbett And Limited Liability Com last reported 0.06% of its portfolio in the stock. State Bank Of New York Mellon has 343,187 shares for 0% of their US portfolio. Legal General Group Inc Public Limited Liability has invested 0% of its portfolio in Denny’s Corporation (NASDAQ:DENN). Smith Asset Mgmt Gru Ltd Partnership holds 0.07% of its portfolio in Denny’s Corporation (NASDAQ:DENN) for 212,690 shares. Gabelli Funds Limited Com accumulated 0.02% or 275,000 shares. Moreover, Qs Limited Liability has 0.02% invested in Denny’s Corporation (NASDAQ:DENN) for 210,767 shares. Principal Fincl Grp has invested 0% of its portfolio in Denny’s Corporation (NASDAQ:DENN). The Ohio-based Victory Capital has invested 0% in Denny’s Corporation (NASDAQ:DENN). New York State Teachers Retirement Sys, a New York-based fund reported 6,600 shares. The Texas-based Dimensional Fund Advisors L P has invested 0.01% in Denny’s Corporation (NASDAQ:DENN).
Insider Transactions: Since November 3, 2016, the stock had 0 insider purchases, and 2 sales for $201,131 net activity. The insider SMITHART-OGLESBY DEBRA sold $26,232. Shares for $174,899 were sold by Flemming Timothy E. on Wednesday, November 9.
More news for Denny’s Corporation (NASDAQ:DENN) were recently published by: Prnewswire.com, which released: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Denny’s …” on July 26, 2016. Reuters.com‘s article titled: “BRIEF-Denny’s Corporation reports results for third quarter 2016” and published on November 01, 2016 is yet another important article.
DENN Company Profile
Denny’s Corporation (Denny’s), incorporated on September 29, 1988, is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc., owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and firm operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations. The Company’s approximately 1,550 restaurants are franchised or licensed, representing 90% of the total restaurants, and over 160 are firm operated.
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