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

Shares of Denny’s Co. (NASDAQ:DENN) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.92.

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

Insider Transactions at Denny’s

In related 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 value of $327,070.75. Following the transaction, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Denny’s

A number of hedge funds and other institutional investors have recently made changes to their positions in DENN. Earnest Partners LLC acquired a new stake in Denny’s during the fourth quarter worth approximately $12,380,000. Bank of America Corp DE raised its holdings in Denny’s by 152.0% in 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 lifted 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 during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Denny’s during the 1st quarter worth $5,321,000. Finally, Two Sigma Investments LP bought a new position in shares of Denny’s in the first quarter worth $4,303,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Denny’s Price Performance

Denny’s stock opened at $8.17 on Wednesday. The company’s 50-day moving average is $8.95 and its 200-day moving average is $9.51. The firm has a market capitalization of $433.83 million, a PE ratio of 23.34, a P/E/G ratio of 1.41 and a beta of 1.93. Denny’s has a fifty-two week low of $8.00 and a fifty-two week high of $12.53.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. During the same period last year, the firm earned $0.18 EPS. Denny’s’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, analysts expect that Denny’s will post 0.64 EPS for the current year.

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.