Denny’s (DENN) Stock Rating Reaffirmed by Wedbush

Denny’s (NASDAQ:DENN)‘s stock had its “buy” rating reiterated by analysts at Wedbush in a research report issued on Monday. They presently have a $20.00 price target on the restaurant operator’s stock. Wedbush’s price target suggests a potential upside of 10.13% from the stock’s current price.

DENN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Denny’s from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Maxim Group assumed coverage on shares of Denny’s in a research report on Tuesday, December 11th. They set a “buy” rating and a $21.00 target price for the company. BidaskClub raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Finally, Stephens raised shares of Denny’s from an “equal” rating to a “weight” rating and increased their target price for the company from $16.50 to $17.00 in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Denny’s currently has a consensus rating of “Buy” and a consensus price target of $19.00.

NASDAQ:DENN traded up $0.22 during mid-day trading on Monday, hitting $18.16. 4,873 shares of the stock traded hands, compared to its average volume of 360,147. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 31.31 and a beta of 0.17. Denny’s has a 52 week low of $13.32 and a 52 week high of $18.94.



In other Denny’s news, VP Timothy E. Flemming sold 43,600 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $17.24, for a total value of $751,664.00. Following the completion of the transaction, the vice president now owns 161,791 shares of the company’s stock, valued at $2,789,276.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP F Mark Wolfinger sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $125,025.00. Following the completion of the transaction, the executive vice president now directly owns 723,394 shares of the company’s stock, valued at approximately $12,058,977.98. The disclosure for this sale can be found here. Insiders have sold 71,600 shares of company stock valued at $1,222,424 in the last three months. 5.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sawgrass Asset Management LLC purchased a new position in shares of Denny’s during the fourth quarter worth $172,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Denny’s during the fourth quarter worth $236,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Denny’s by 61.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,475 shares of the restaurant operator’s stock worth $243,000 after purchasing an additional 6,300 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Denny’s during the third quarter worth $374,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Denny’s by 100.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 25,430 shares of the restaurant operator’s stock valued at $388,000 after buying an additional 12,715 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

Denny’s Company Profile

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of September 26, 2018, it had 1,715 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.

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