Oppenheimer Cuts Denny’s (NASDAQ:DENN) Price Target to $11.00

Denny’s (NASDAQ:DENN) had its target price decreased by Oppenheimer from $12.00 to $11.00 in a research report released on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com raised Denny’s from a hold rating to a buy rating in a research report on Friday, April 19th. Wedbush cut their target price on shares of Denny’s from $10.50 to $9.50 and set a neutral rating on the stock in a research note on Friday, April 26th. Finally, Truist Financial reduced their price objective on Denny’s from $13.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $11.42.

Denny’s Price Performance

Shares of NASDAQ DENN opened at $8.09 on Wednesday. Denny’s has a 1 year low of $7.82 and a 1 year high of $12.53. The company has a market capitalization of $420.84 million, a P/E ratio of 18.81, a P/E/G ratio of 1.42 and a beta of 1.94. The company has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $9.50.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $109.97 million during the quarter, compared to analysts’ expectations of $115.17 million. Denny’s had a net margin of 5.27% and a negative return on equity of 63.27%. During the same quarter last year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts expect that Denny’s will post 0.63 EPS for the current year.

Insider Activity

In related news, Director John C. Miller sold 35,359 shares of Denny’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the sale, the director now directly owns 740,626 shares in the company, valued at approximately $6,850,790.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fruth Investment Management grew its stake in Denny’s by 8.2% during the 4th quarter. Fruth Investment Management now owns 26,500 shares of the restaurant operator’s stock worth $288,000 after buying an additional 2,000 shares during the last quarter. Diversified Trust Co grew its position in Denny’s by 16.4% during the 4th quarter. Diversified Trust Co now owns 15,546 shares of the restaurant operator’s stock worth $169,000 after purchasing an additional 2,186 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Denny’s by 126.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 2,536 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Denny’s by 3.5% in the third quarter. New York State Common Retirement Fund now owns 93,023 shares of the restaurant operator’s stock valued at $788,000 after buying an additional 3,120 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Denny’s by 29.7% during the third quarter. Principal Financial Group Inc. now owns 18,482 shares of the restaurant operator’s stock worth $157,000 after buying an additional 4,233 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.