Denny’s (NASDAQ:DENN) PT Lowered to $7.00

Denny’s (NASDAQ:DENN) had its target price cut by stock analysts at Oppenheimer from $10.00 to $7.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price objective would suggest a potential upside of 11.82% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. 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. Truist Financial decreased their target price on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Benchmark reiterated a “buy” rating and set a $15.00 price target on shares of Denny’s in a research report on Wednesday, July 31st. Finally, Citigroup cut their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Denny’s Stock Performance

NASDAQ:DENN opened at $6.26 on Wednesday. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The business’s fifty day moving average is $6.31 and its 200 day moving average is $6.95. The firm has a market cap of $321.58 million, a price-to-earnings ratio of 18.97, a PEG ratio of 1.11 and a beta of 2.02.

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

Hedge Funds Weigh In On Denny’s

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Denny’s by 20.7% in the first quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock worth $382,000 after buying an additional 7,309 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Denny’s by 19.9% during the 1st quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock valued at $2,396,000 after purchasing an additional 44,414 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Denny’s by 87.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock worth $262,000 after purchasing an additional 13,600 shares during the period. First Eagle Investment Management LLC lifted its stake in Denny’s by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock worth $9,889,000 after purchasing an additional 146,658 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Denny’s by 2.8% during the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after buying an additional 89,465 shares during the period. 85.07% of the stock is currently owned by institutional investors.

About Denny’s

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.