Restaurant brand manager Dine Brands (NYSE: DIN) is having an interesting 2020, to say the least. The company announced a CEO transition in May, near the peak of the COVID-19 crisis. It took five months to find a replacement for Stephen Joyce, who guided the company through a fairly successful turnaround over the last three years. Now that the corner-office handoff is ready for completion on Jan. 4, the parent company of IHOP and Applebee’s is struggling again.
The stock is trading at a discount, 38% below its 52-week highs. Is this a good time to bet on another turnaround under new management?