Bulletin
Investor Alert

Market Pulse Archives

Oct. 21, 2021, 10:39 a.m. EDT

Denny's has been able to bring back round-the-clock service despite labor issues, Truist says

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Denny's Corp. (DENN)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tonya Garcia

Denny's Corp. /zigman2/quotes/206956394/composite DENN -1.37% was upgraded to buy from hold at Truist Securities, with analysts growing more upbeat as the restaurant chain restores 24/7 dining service and growing strength in key markets, California, Texas and Florida. Truist raised its price target to $18 from $17. "As of 10/18, we found that 24-hour operations are offered at 52% of Denny's stores on Saturdays, up from 44% at the end of 2Q21, and the percent open midnight or later increased to 78% from 68%," analysts said. "While still far from having all stores open 24/7, which the vast majority were pre-COVID, we view the improvement as encouraging, given still persistent staffing challenges." Analysts also think that Denny's franchised business creates a margin opportunity as franchisors raise price to manage inflation. Denny's stock is up 6.5% in Thursday trading, and up 6% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -2.27% has gained 20.8% for 2021 so far.

/zigman2/quotes/206956394/composite
US : U.S.: Nasdaq
$ 14.40
-0.20 -1.37%
Volume: 531,530
Nov. 26, 2021 1:00p
P/E Ratio
25.61
Dividend Yield
N/A
Market Cap
$912.76 million
Rev. per Employee
$93,098
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.