Denny’s (NASDAQ:DENN) PT Lowered to $11.00

Denny’s (NASDAQ:DENNGet Free Report) had its price objective reduced by equities researchers at Oppenheimer from $12.00 to $11.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target would indicate a potential upside of 36.48% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial cut their target price 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. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Wedbush dropped their price objective on Denny’s from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.42.

Get Our Latest Report on Denny’s

Denny’s Trading Up 0.2 %

NASDAQ DENN opened at $8.06 on Wednesday. Denny’s has a 12 month low of $7.82 and a 12 month high of $12.53. The stock has a market cap of $419.28 million, a P/E ratio of 18.74, a P/E/G ratio of 1.42 and a beta of 1.94. The stock’s fifty day moving average price is $8.74 and its 200-day moving average price is $9.51.

Denny’s (NASDAQ:DENNGet Free Report) last released its earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Denny’s had a negative return on equity of 63.27% and a net margin of 5.27%. The company had revenue of $109.97 million during the quarter, compared to analysts’ expectations of $115.17 million. During the same period in the prior year, the company posted $0.13 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. As a group, analysts forecast that Denny’s will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Denny’s news, Director John C. Miller sold 35,359 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was 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 of the company’s stock, valued at $6,850,790.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DENN. Quadrant Capital Group LLC boosted its position in Denny’s by 126.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 2,536 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Denny’s in the third quarter worth about $89,000. Quest Partners LLC bought a new position in shares of Denny’s in the fourth quarter worth about $96,000. Jump Financial LLC bought a new position in shares of Denny’s in the third quarter worth about $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Denny’s by 45.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator’s stock worth $130,000 after buying an additional 4,843 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

About Denny’s

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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.

Further Reading

Analyst Recommendations for Denny's (NASDAQ:DENN)

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