Denny’s’ (DENN) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Denny’s (NASDAQ:DENN) in a research note released on Friday, Benzinga reports. They currently have a $8.50 price target on the restaurant operator’s stock.

DENN has been the topic of several other research reports. StockNews.com cut shares of Denny’s from a buy rating to a hold rating in a research note on Thursday, May 2nd. Truist Financial lowered their target price on shares of Denny’s from $11.00 to $10.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Benchmark reissued a buy rating and set a $15.00 price target on shares of Denny’s in a research report on Wednesday, May 1st. Finally, Oppenheimer lowered their price target on shares of Denny’s from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Denny’s currently has a consensus rating of Moderate Buy and a consensus target price of $10.70.

Denny’s Stock Down 0.6 %

Shares of DENN opened at $7.21 on Friday. Denny’s has a 52-week low of $6.33 and a 52-week high of $11.91. The firm’s fifty day moving average is $7.07 and its two-hundred day moving average is $8.51. The stock has a market cap of $375.06 million, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.32 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last announced 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 negative return on equity of 63.27% and a net margin of 5.27%. The business had revenue of $109.97 million for the quarter, compared to analyst estimates of $115.17 million. During the same period last year, the firm earned $0.13 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, research analysts anticipate that Denny’s will post 0.61 earnings per share for the current year.

Insider Activity

In other news, Director Brenda J. Lauderback sold 11,145 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $7.36, for a total transaction of $82,027.20. Following the transaction, the director now owns 15,406 shares of the company’s stock, valued at approximately $113,388.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Robert P. Verostek acquired 10,000 shares of Denny’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $6.53 per share, for a total transaction of $65,300.00. Following the acquisition, the chief financial officer now owns 24,000 shares in the company, valued at $156,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brenda J. Lauderback sold 11,145 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $7.36, for a total transaction of $82,027.20. Following the completion of the sale, the director now owns 15,406 shares in the company, valued at $113,388.16. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Denny’s

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Olstein Capital Management L.P. raised its holdings in Denny’s by 9.9% in the 2nd quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock valued at $6,364,000 after buying an additional 80,587 shares during the period. CWM LLC raised its holdings in Denny’s by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 3,239 shares during the period. Boston Partners purchased a new stake in Denny’s in the 1st quarter valued at about $193,000. Price T Rowe Associates Inc. MD raised its holdings in Denny’s by 56.1% in 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 buying an additional 44,163 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Denny’s by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after buying an additional 89,465 shares during the period. 85.07% of the stock is currently 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.