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International House of Pancakes
Trading name
IHOP
Type
Subsidiary
Industry Restaurants
Founded July 7, 1958 (1958-07-07)
Burbank, California
Founders Jerry Lapin, Al Lapin Jr. and Albert Kallis
Headquarters Glendale, California, U.S.
Number of locations
1,650
Area served
North America, Middle East, the Philippines
Key people
Darren Rebelez President
Russell Findlay VP Marketing
Products Breakfast foods, Lunch, Dinner, Sandwiches
Revenue Increase US$349.6 million ((2006))
Operating income
Increase US$72.8 million ((2006))
Net income
Increase US$141.1 million ((2006))
Number of employees
32,300 ((2007))
Parent DineEquity
Website www.ihop.com

IHOP (/ˈhɑːp/), officially known as the International House of Pancakes, is an American multinational pancake house/fast casual family restaurant chain that specializes in breakfast foods. It is owned by DineEquity, with 99% of the restaurants run by independent franchisees. While IHOP's focus is on breakfast foods, it also offers a menu of lunch and dinner items. The company has 1,650 locations in North America, Latin America, the Middle East, Southeast Asia, and Oceania. It is known for many of its locations being open 24 hours a day, 7 days a week. For locations that are not open 24 hours, the franchise's minimum operating hours are Sunday through Thursday from 7 a.m. to 10 p.m., and Fridays and Saturdays from 7 a.m. to 12 midnight.

Jerry Lapin, Al Lapin, and Albert Kallis founded International House of Pancakes in 1958 with the help of Sherwood Rosenberg and William Kaye. The first restaurant opened on July 7, 1958, at 4301 Riverside Drive in Burbank, CA]]

The location is coincidentally across from the oldest remaining Bob's Big Boy restaurant. Albert Kallis was a professional artist who designed the film posters of American International Pictures in the 1950s. Director Bert I. Gordon recalled that Kallis designed their logo and left poster artwork.

The menu later expanded (especially in the 1980s) to include (along with breakfast foods) standard lunch and dinner items found in similar restaurant chains such as Denny's. From 1959 to 1975, it was the flagship division of International Industries, a holding company which also owned the Orange Julius refreshment stands.

In 1973, the chain's name was shortened to "IHOP" for marketing purposes, using a cartoon kangaroo in its commercials at the time, and since then the full name and acronym have been officially interchangeable. From 1976 onward, the company increasingly favored the acronym.

Franchising agreements with M.H. Alshaya, an international restaurant-franchising firm, resulted in an agreement for Alshaya to open as many as forty IHOP locations in the Middle East, beginning in 2012. By the end of 2013, IHOP restaurants operated in three Middle Eastern countries: Kuwait, Saudi Arabia, and the United Arab Emirates.

An IHOP with the older look and former logos in Orlando, Florida

An IHOP in Poughkeepsie, New York

On July 16, 2007, IHOP Corporation stated its desire to acquire the bar-and-grill chain Applebee's International, Inc. in an all-cash transaction, valued at approximately US$2.1 billion. Under the deal, IHOP would pay $25.50 per share for Applebee's. IHOP stated it would franchise most of Applebee's 500 company-owned facilities. Applebee's had 1,943 restaurants worldwide at the time, including those operated by franchisees.

With a larger than 70% vote, the company approved the undertaking of this enterprise, which closed on November 29, 2007. The deal beat 26 other offers to purchase the flagging Applebee's. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, stated he planned to take IHOP to court to demand a higher amount of money to be paid to him because the purchasing price that IHOP offered is unfair to the shareholders of Applebee's. As part of the purchase, a brand remarketing scheme and revitalization of the Applebee's image was intended. The buyout successfully closed on November 29, 2007, and the corporate entity IHOP changed its name to DineEquity on May 28, 2008.

In early September 2010, IHOP filed a lawsuit in U.S. District Court in Los Angeles against International House of Prayer and six other defendants alleging trademark dilution and infringement. The lawsuit was dropped on December 21, 2010, with the dispute resolved out of court.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-22 Future report Set alerts
Q3 2020 2020-10-28 Future report Set alerts
Q2 2020 2020-07-29 -0.87 -8.04
Q1 2020 2020-04-29 1.45 1.31
Q4 2019 2020-02-24 1.78 1.59
Q3 2019 2019-10-30 1.55 1.36
Q2 2019 2019-07-31 1.71 1.18
Q1 2019 2019-05-01 1.90 1.73
Q4 2018 2019-02-21 1.70 1.47
Q3 2018 2018-10-31 1.53 1.29

Ratings

2016-04-20 Initiated Coverage Nomura Buy $107.00
2016-04-20 Initiated Coverage Nomura Holdings Inc. Buy $107.00
2016-01-29 Lower Price Target Raymond James $110.00 to $100.00
2016-01-29 Lower Price Target Raymond James Financial Inc. $110.00 to $100.00
2015-10-30 Reiterated Rating JPMorgan Chase & Co. Neutral $106.00 to $92.00
2015-10-12 Downgrade Raymond James Strong-Buy to Outperform $120.00 to $110.00
2015-07-07 Downgrade Longbow Research Buy to Neutral
2015-05-09 Reiterated Rating JPMorgan Chase & Co. Neutral $116.00 to $106.00
2015-02-26 Downgrade JPMorgan Chase & Co. Overweight to Neutral $101.00 to $116.00
2014-10-29 Reiterated Rating JPMorgan Chase & Co. Overweight $94.00 to $101.00
2014-10-29 Downgrade Telsey Advisory Group Outperform to Market Perform
2014-10-27 Upgrade Longbow Research Neutral to Buy $102.00
2014-07-31 Boost Price Target JPMorgan Chase & Co. $92.00 to $94.00
2014-07-30 Reiterated Rating Raymond James Strong-Buy $95.00 to $100.00
2014-05-02 Boost Price Target JPMorgan Chase & Co. Overweight $90.00 to $92.00
2014-04-04 Initiated Coverage Longbow Research Neutral
2014-02-20 Upgrade Janney Montgomery Scott Neutral to Buy $80.00 to $94.00
2014-02-10 Upgrade Raymond James Outperform to Strong-Buy
2014-02-07 Upgrade KeyBanc Hold to Buy $90.00
2013-10-30 Boost Price Target Raymond James Outperform $80.00 to $95.00
2011-08-03 Upgrade Morgan Keegan Mkt Perform to Outperform $55
2010-03-18 Upgrade Sun Trust Rbsn Humphrey Neutral to Buy $50
2009-08-27 Initiated Morgan Keegan Mkt Perform
2008-10-02 Initiated Sun Trust Rbsn Humphrey Neutral
2016-04-20 Initiated Coverage Nomura Buy $107.00
2016-04-20 Initiated Coverage Nomura Holdings Inc. Buy $107.00
2016-01-29 Lower Price Target Raymond James $110.00 to $100.00
2016-01-29 Lower Price Target Raymond James Financial Inc. $110.00 to $100.00
2015-10-30 Reiterated Rating JPMorgan Chase & Co. Neutral $106.00 to $92.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
ROSE PATRICK W 0.27%  (53604) DIN /
DAHL RICHARD J 0.25%  (49832) DIN / HE / IDA / IRF /
REBELEZ DARREN M PRESIDENT, IHOP 0.23%  (46591) DIN / TMK /
Archer Michael J. PRESIDENT, APPLEBEE\'S INTL 0.17%  (34625) DIN /
CYWINSKI JOHN C President, Applebee\'s 0.17%  (33771) DIN / EAT /
NAHAS CAROLINE W 0.13%  (25757) DIN /
RAY GILBERT T 0.13%  (24868) AAP / DIN / DRH / TW /
MSD CAPITAL L P 0.12%  (22932) ABG / BKEP / DIN / NSAM /
Berk Howard M 0.12%  (22932) DIN /
STEWART JULIA A CHAIRMAN AND CEO 0.11%  (22000) AVY / DIN /
BRESTLE DANIEL J 0.09%  (16932) DIN /
ADEL BRYAN R SVP, LEGAL, GC AND SECRETARY 0.08%  (16407) DIN /
Del Olmo Daniel SVP, INTERNATIONAL 0.08%  (15259) DIN /
EMREY TOM CHIEF FINANCIAL OFFICER 0.07%  (14766) DIN /
Layt Steven PRESIDENT, APPLEBEE\'S INTL 0.06%  (12523) DIN /
KAY LARRY ALAN 0.04%  (8599) DIN /
Joyce Stephen P 0.04%  (8404) CHH / DIN /
JAKUBEK JOHN SVP, HUMAN RESOURCES 0.04%  (8292) DIN /
KALVIN GREGGORY SVP, CORPORATE CONTROLLER 0.04%  (8086) DIN /
GORDON MICHAEL STEPHEN 0.03%  (6551) DIN /
PASQUALE DOUGLAS M 0.01%  (1086) ALEX / DIN / MATX / SHO / TRNO / VTR /

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