Wedbush Lowers Denny’s (NASDAQ:DENN) Price Target to $9.50

Denny’s (NASDAQ:DENN) had its price target lowered by Wedbush from $10.50 to $9.50 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on DENN. Truist Financial decreased their price objective on Denny’s from $13.00 to $12.00 and set a buy rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded shares of Denny’s from a hold rating to a buy rating in a research note on Friday, April 19th. Finally, Oppenheimer cut their target price on shares of Denny’s from $13.00 to $12.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Denny’s has an average rating of Moderate Buy and an average target price of $11.75.

Denny’s Stock Up 1.7 %

DENN stock opened at $8.21 on Friday. The business’s fifty day moving average is $8.79 and its 200-day moving average is $9.52. The company has a market cap of $435.95 million, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.93. Denny’s has a twelve month low of $8.00 and a twelve month high of $12.53.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, February 13th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Research analysts anticipate that Denny’s will post 0.64 earnings per share for the current fiscal year.

Insider Activity at Denny’s

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Denny’s by 112.8% during the third quarter. Envestnet Asset Management Inc. now owns 662,063 shares of the restaurant operator’s stock worth $5,608,000 after buying an additional 350,995 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Denny’s by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock worth $68,179,000 after buying an additional 296,554 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Denny’s by 43.6% during the third quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after buying an additional 247,470 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Denny’s by 17.4% during the third quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after buying an additional 228,709 shares during the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of Denny’s by 95.6% during the fourth quarter. North Star Investment Management Corp. now owns 431,700 shares of the restaurant operator’s stock worth $4,697,000 after buying an additional 211,000 shares during the last quarter. 85.07% of the stock is 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.