Analysts Set Denny’s Co. (NASDAQ:DENN) Target Price at $7.70

Denny’s Co. (NASDAQ:DENN) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.70.

A number of equities analysts have commented on DENN shares. StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Oppenheimer cut their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Benchmark cut their price target on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Wedbush reduced their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial dropped their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th.

Denny’s Price Performance

DENN opened at $6.99 on Friday. The firm’s fifty day moving average price is $6.41 and its two-hundred day moving average price is $6.81. The company has a market capitalization of $358.80 million, a P/E ratio of 21.18, a P/E/G ratio of 1.57 and a beta of 2.02. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, equities research analysts expect that Denny’s will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Denny’s by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,694 shares in the last quarter. Creative Planning grew its position in shares of Denny’s by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after acquiring an additional 2,273 shares during the period. Quarry LP increased its position in Denny’s by 161.5% during the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after buying an additional 2,617 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Denny’s by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock worth $540,000 after acquiring an additional 2,775 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Denny’s by 726.2% during the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after buying an additional 3,239 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.