Denny’s (NASDAQ:DENN) Price Target Cut to $7.00

Denny’s (NASDAQ:DENN) had its target price cut by investment analysts at Oppenheimer from $10.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s target price indicates a potential upside of 27.97% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Benchmark reissued a “buy” rating and set a $15.00 price target on shares of Denny’s in a research note on Wednesday, July 31st. Wedbush lowered their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup reduced their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial lowered their target price on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Denny’s has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $5.47 on Wednesday. The firm has a market capitalization of $284.54 million, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.35 and a beta of 2.02. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The firm has a fifty day moving average of $6.31 and a 200 day moving average of $6.96.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. Denny’s’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, sell-side analysts forecast that Denny’s will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Denny’s

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after acquiring an additional 89,465 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Denny’s by 15.3% during the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after buying an additional 146,658 shares during the period. Allspring Global Investments Holdings LLC raised 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 worth $55,693,000 after buying an additional 558,964 shares in the last quarter. Boston Partners purchased a new stake in Denny’s in the first quarter worth about $193,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Denny’s by 56.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 122,850 shares of the restaurant operator’s stock valued at $1,102,000 after acquiring an additional 44,163 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.