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.

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,

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,