Denny's Corp (NASDAQ:DENN)
The Company is America's family-style restaurant chain in terms of market share and number of units. Through its wholly owned subsidiaries, Denny's Holdings, Inc. and Denny's, Inc., it owns and operates the restaurant brand.
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My (young adult) kids eat there and all their friends eat there. Open 24 hours and the food is predictable and cheap. Personally I think the food is disgusting but they do have a lot of property and I think they'll turn around by selling off their losers.
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I hate eating at denny's - trash food IMO, but i think a lot of people do it for the value.
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Up nicely from its bottom. Working on the debt, but this is a long-term turnaround.
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You know any company will succeed with a product named "Moons over my Hammy."
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The price is right.
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market seems to be responding positively to the debt reduction strategy
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This turnaround situation will begin to pick up steam in the fourth quarter of 2006 as the company (a) resumes paying down on its large debt burden and (b) conitinues a methodical program of store openings and closings. Margins should begin to show consistent improvement, and a topping out of interest rates should help.
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increase in sales counter to trend in restaurant business, recent insider stock purchases show confidence of mgmt,
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Just let me say that I called outperform on this stock *BEFORE* Bill Mann!
Granted, he got in at a better price than I did, but still, it makes me feel good that I got to one first for a change. :-)
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EV/EBIDA of 7. For Denny's. Are you kidding me? Somewhere, a private equity guy is licking his chops and thinking, "Grand Slam Breakfast"!
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This company is a turn-around play. Denny's has shut down old, non profitable stores, paid off debt, hired a very experienced chairman, I think they will soon be the company they once were.
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