Brokerages Set Denny’s Co. (NASDAQ:DENN) Target Price at $11.92

Denny’s Co. (NASDAQ:DENN) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.92.

A number of equities analysts have recently commented on DENN shares. StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer dropped their target price on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Wedbush decreased their price target on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Truist Financial dropped 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.

Denny’s Price Performance

Denny’s stock opened at $8.17 on Wednesday. Denny’s has a one year low of $8.00 and a one year high of $12.53. The company’s fifty day moving average price is $8.95 and its two-hundred day moving average price is $9.51. The company has a market capitalization of $433.83 million, a price-to-earnings ratio of 23.34, a PEG ratio of 1.41 and a beta of 1.93.

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 analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a net margin of 4.30% and a negative return on equity of 70.78%. The company had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Denny’s will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Denny’s

A number of institutional investors and hedge funds have recently modified their holdings of DENN. Earnest Partners LLC acquired a new stake in Denny’s during the fourth quarter worth $12,380,000. Bank of America Corp DE boosted its position in shares of Denny’s by 152.0% during the 4th quarter. Bank of America Corp DE now owns 2,166,947 shares of the restaurant operator’s stock valued at $19,958,000 after acquiring an additional 1,306,913 shares in the last quarter. Millennium Management LLC boosted its position in shares of Denny’s by 57.0% during the 4th quarter. Millennium Management LLC now owns 1,407,016 shares of the restaurant operator’s stock valued at $12,959,000 after acquiring an additional 510,696 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Denny’s in the first quarter valued at about $5,321,000. Finally, Two Sigma Investments LP acquired a new position in Denny’s in the first quarter worth about $4,303,000. 85.07% of the stock is currently owned by institutional investors.

Denny’s Company Profile

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.