Oppenheimer Forecasts Strong Price Appreciation for Denny’s (NASDAQ:DENN) Stock

Denny’s (NASDAQ:DENN) had its price target raised by stock analysts at Oppenheimer from $7.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target points to a potential upside of 37.69% from the company’s current price.

DENN has been the subject of several other reports. Truist Financial reduced their price target on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.00 to $7.50 in a research note on Friday, October 25th. Benchmark dropped their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wedbush decreased 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, StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.90.

Denny’s Stock Down 5.5 %

Shares of Denny’s stock opened at $5.81 on Tuesday. Denny’s has a 12-month low of $5.37 and a 12-month high of $11.16. The stock has a market cap of $298.22 million, a P/E ratio of 17.61, a P/E/G ratio of 1.33 and a beta of 2.01. The business’s 50 day moving average is $6.34 and its 200-day moving average is $6.46.

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

Hedge Funds Weigh In On Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Denny’s by 6.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after acquiring an additional 558,964 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Denny’s by 73.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock valued at $8,908,000 after purchasing an additional 583,660 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Denny’s by 14.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after buying an additional 155,100 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Denny’s by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after buying an additional 3,902 shares during the last quarter. Finally, State Street Corp boosted its stake in Denny’s by 0.3% in the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock valued at $7,585,000 after buying an additional 3,142 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.