Denny’s (NASDAQ:DENN) Price Target Lowered to $11.00 at Oppenheimer

Denny’s (NASDAQ:DENN) had its target price decreased by Oppenheimer from $12.00 to $11.00 in a research note issued to investors on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Denny’s from a hold rating to a buy rating in a research report on Friday, April 19th. Truist Financial reduced their target price on Denny’s from $13.00 to $12.00 and set a buy rating for the company in a research note on Wednesday, February 14th. Finally, Wedbush dropped their price target on shares of Denny’s from $10.50 to $9.50 and set a neutral rating on the stock in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Denny’s currently has an average rating of Moderate Buy and an average price target of $11.42.

Denny’s Trading Up 0.2 %

Denny’s stock opened at $8.04 on Wednesday. The firm has a market cap of $426.92 million, a PE ratio of 18.70, a P/E/G ratio of 1.39 and a beta of 1.94. Denny’s has a 12 month low of $7.82 and a 12 month high of $12.53. The stock’s 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $9.52.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Denny’s had a net margin of 5.27% and a negative return on equity of 66.19%. The firm had revenue of $109.97 million during the quarter, compared to analyst estimates of $115.17 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities research analysts forecast that Denny’s will post 0.64 EPS for the current year.

Insider Transactions at Denny’s

In related news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.25, for a total transaction of $327,070.75. Following the completion of the sale, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in Denny’s by 126.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 2,536 shares during the last quarter. Corton Capital Inc. acquired a new stake in shares of Denny’s in the third quarter valued at approximately $89,000. Quest Partners LLC purchased a new position in Denny’s during the fourth quarter worth approximately $96,000. Jump Financial LLC acquired a new position in Denny’s during the third quarter worth $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Denny’s by 45.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator’s stock valued at $130,000 after buying an additional 4,843 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.