StockNews.com Upgrades Denny’s (NASDAQ:DENN) to Buy

StockNews.com upgraded shares of Denny’s (NASDAQ:DENN) from a hold rating to a buy rating in a research note released on Wednesday morning.

DENN has been the topic of several other research reports. Oppenheimer lowered their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial lowered their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wedbush decreased their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup dropped their price objective on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Benchmark reissued a “buy” rating and issued a $15.00 target price on shares of Denny’s in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Denny’s presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Denny’s Trading Up 4.8 %

DENN stock opened at $6.56 on Wednesday. The firm has a 50 day moving average of $6.31 and a 200-day moving average of $6.93. The firm has a market capitalization of $341.24 million, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.06%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. Sell-side analysts predict that Denny’s will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Denny’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in Denny’s during the second quarter valued at about $25,000. CWM LLC lifted its stake in shares of Denny’s by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 3,239 shares during the last quarter. Quarry LP boosted its holdings in Denny’s by 161.5% during the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 2,617 shares during the period. Canada Pension Plan Investment Board bought a new position in Denny’s during the 2nd quarter worth approximately $31,000. Finally, Sanctuary Advisors LLC purchased a new position in Denny’s in the 2nd quarter worth approximately $77,000. Institutional investors own 85.07% of the company’s stock.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.