DineEquity, Inc (DIN) Downgraded by Zacks Investment Research to “Hold”
DineEquity, Inc (NYSE:DIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “IHOP Corp. develops, franchises and operates International House of Pancakes restaurants. IHOP restaurants feature moderately-priced, high-quality food and beverage items, and table service in an attractive and comfortable atmosphere. Although IHOP restaurants are best known for their award-winning pancakes, omelets and other breakfast specialties, IHOP restaurants are open throughout the day and evening hours and offer a broad array of lunch, dinner and snack items as well. “
A number of other brokerages also recently issued reports on DIN. Nomura reaffirmed a “hold” rating and issued a $55.00 price objective on shares of DineEquity in a research report on Monday, April 17th. Instinet upped their price objective on shares of DineEquity from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. Vetr downgraded shares of DineEquity from a “buy” rating to a “hold” rating and set a $58.82 price objective for the company. in a research report on Wednesday, April 26th. Maxim Group reaffirmed a “buy” rating and issued a $77.00 price objective on shares of DineEquity in a research report on Friday, April 28th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of DineEquity in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. DineEquity has a consensus rating of “Buy” and an average target price of $56.47.
Shares of DineEquity (DIN) traded down 0.40% during midday trading on Monday, reaching $39.56. 471,593 shares of the company traded hands. The firm has a market capitalization of $711.45 million, a PE ratio of 8.81 and a beta of 0.39. DineEquity has a 12-month low of $36.71 and a 12-month high of $88.00. The company has a 50-day moving average of $42.05 and a 200 day moving average of $51.51.
DineEquity (NYSE:DIN) last issued its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. DineEquity had a net margin of 13.02% and a return on equity of 38.34%. The business had revenue of $155.20 million during the quarter, compared to the consensus estimate of $155.33 million. During the same period in the prior year, the firm posted $1.59 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that DineEquity will post $4.57 earnings per share for the current year.
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In related news, Director Stephen P. Joyce bought 2,265 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $44.07 per share, for a total transaction of $99,818.55. Following the completion of the purchase, the director now directly owns 5,488 shares in the company, valued at $241,856.16. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.15% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in DineEquity by 59.4% in the second quarter. FMR LLC now owns 2,697,013 shares of the restaurant operator’s stock worth $118,803,000 after buying an additional 1,005,504 shares during the last quarter. BlackRock Inc. boosted its position in DineEquity by 66,627.1% in the first quarter. BlackRock Inc. now owns 2,055,863 shares of the restaurant operator’s stock worth $111,881,000 after buying an additional 2,052,782 shares during the last quarter. Vanguard Group Inc. boosted its position in DineEquity by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,578,848 shares of the restaurant operator’s stock worth $69,548,000 after buying an additional 56,955 shares during the last quarter. Wells Fargo & Company MN boosted its position in DineEquity by 17.3% in the second quarter. Wells Fargo & Company MN now owns 886,539 shares of the restaurant operator’s stock worth $39,051,000 after buying an additional 130,946 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its position in DineEquity by 41.7% in the second quarter. EdgePoint Investment Group Inc. now owns 599,055 shares of the restaurant operator’s stock worth $26,388,000 after buying an additional 176,412 shares during the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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