Denny’s Co. (NASDAQ:DENN) Receives $11.92 Consensus Target Price from Brokerages

Denny’s Co. (NASDAQ:DENN) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.92.

Several research firms have recently commented on DENN. Truist Financial lowered their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Wedbush decreased their target price on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Oppenheimer decreased their target price on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th.

Insider Activity 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 transaction of $327,070.75. Following the completion of the sale, the director now owns 740,626 shares of the company’s stock, valued at approximately $6,850,790.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. boosted its position in shares of Denny’s by 11.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 22,616 shares of the restaurant operator’s stock worth $323,000 after purchasing an additional 2,305 shares during the period. Rice Hall James & Associates LLC boosted its position in Denny’s by 3.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 76,912 shares of the restaurant operator’s stock valued at $1,101,000 after buying an additional 2,485 shares during the period. MetLife Investment Management LLC boosted its position in Denny’s by 50.0% in the 1st quarter. MetLife Investment Management LLC now owns 32,473 shares of the restaurant operator’s stock valued at $465,000 after buying an additional 10,823 shares during the period. Dimensional Fund Advisors LP boosted its position in Denny’s by 8.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,178,502 shares of the restaurant operator’s stock valued at $16,864,000 after buying an additional 94,513 shares during the period. Finally, Vanguard Group Inc. boosted its position in Denny’s by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,186,493 shares of the restaurant operator’s stock valued at $45,599,000 after buying an additional 26,750 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Denny’s Trading Down 1.0 %

NASDAQ DENN opened at $8.55 on Friday. Denny’s has a 12-month low of $8.11 and a 12-month high of $12.53. The firm’s fifty day simple moving average is $9.73 and its two-hundred day simple moving average is $9.54. The firm has a market capitalization of $454.01 million, a P/E ratio of 24.43, a P/E/G ratio of 1.49 and a beta of 1.94.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, February 13th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate 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 company had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Denny’s will post 0.64 earnings per share for the current fiscal year.

About Denny’s

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.