Oppenheimer Issues Positive Forecast for Denny’s (NASDAQ:DENN) Stock Price

Denny’s (NASDAQ:DENN) had its target price boosted by stock analysts at Oppenheimer from $7.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s target price would indicate a potential upside of 25.00% from the stock’s previous close.

Several other equities research analysts have also weighed in on DENN. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $7.50 in a report on Friday, October 25th. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Wedbush cut their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their target price on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Benchmark cut their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.90.

Denny’s Price Performance

Shares of NASDAQ DENN opened at $6.40 on Tuesday. The company’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $6.47. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The firm has a market capitalization of $328.51 million, a P/E ratio of 19.39, a P/E/G ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data 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 business had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that Denny’s will post 0.52 EPS for the current fiscal year.

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. Allspring Global Investments Holdings LLC grew its position 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 purchasing an additional 558,964 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Denny’s by 73.2% in the third 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 in the last quarter. First Eagle Investment Management LLC grew its position in Denny’s by 14.1% in the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after purchasing an additional 155,100 shares in the last quarter. Geode Capital Management LLC grew its position in Denny’s by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock valued at $7,618,000 after purchasing an additional 3,902 shares in the last quarter. Finally, State Street Corp grew its position 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 purchasing 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.