Key Takeaways Shares of Dine Brands Global, the parent company of Applebee's and IHOP, fell Friday after receiving a downgrade from a Truist equities analyst.The analyst wrote Thursday that his firm's card data showed Applebee's sales struggling more than some of its competitors in recent months.

Potentially severe Applebee’s same-store sales underperformance vs. peers (based on Truist Card Data) shakes our confidence that improving same-store sales will be a near-term catalyst for the shares,

Truist Securities cut its rating on Dine Brands Global (NYSE:DIN) to Hold from Buy on Friday. "Apparent divergence from improving industry trends gives us less confidence in a positive near-term sales catalyst for the stock,