Denny’s (NASDAQ:DENN) Price Target Cut to $20.00

Denny’s (NASDAQ:DENN) had its price target reduced by stock analysts at Stephens from $24.00 to $20.00 in a report issued on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Stephens’ target price suggests a potential upside of 15.47% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. KeyCorp initiated coverage on Denny’s in a research report on Friday, April 9th. They issued a “sector weight” rating for the company. TheStreet upgraded Denny’s from a “d+” rating to a “c” rating in a research note on Tuesday, February 16th. Wedbush boosted their price objective on Denny’s from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. MKM Partners boosted their price objective on Denny’s from $16.00 to $18.00 in a research note on Thursday, April 1st. Finally, Zacks Investment Research upgraded Denny’s from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.13.

Shares of NASDAQ:DENN opened at $17.32 on Wednesday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 216.53, a P/E/G ratio of 4.49 and a beta of 1.80. Denny’s has a 52 week low of $7.87 and a 52 week high of $20.02. The firm has a fifty day simple moving average of $17.68.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, May 4th. The restaurant operator reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $80.60 million during the quarter, compared to analysts’ expectations of $77.63 million. Denny’s had a net margin of 3.32% and a negative return on equity of 6.12%. Denny’s’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, equities research analysts anticipate that Denny’s will post 0.43 earnings per share for the current year.

In other news, CAO Jay C. Gilmore sold 3,300 shares of Denny’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $19.81, for a total transaction of $65,373.00. Following the sale, the chief accounting officer now directly owns 87,672 shares of the company’s stock, valued at $1,736,782.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ellevest Inc. increased its position in shares of Denny’s by 1,715.3% during the fourth quarter. Ellevest Inc. now owns 3,086 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 2,916 shares during the last quarter. Jefferies Group LLC bought a new stake in Denny’s in the fourth quarter valued at about $147,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Denny’s by 43.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,583 shares of the restaurant operator’s stock valued at $155,000 after buying an additional 3,230 shares during the last quarter. NEXT Financial Group Inc increased its holdings in Denny’s by 80.4% in the fourth quarter. NEXT Financial Group Inc now owns 11,275 shares of the restaurant operator’s stock valued at $166,000 after buying an additional 5,026 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in Denny’s in the fourth quarter valued at about $184,000. 84.96% of the stock is currently 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 December 30, 2020, it had 1,650 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

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