Denny’s (NASDAQ:DENN) Price Target Lowered to $7.00 at Citigroup

Denny’s (NASDAQ:DENN) had its target price trimmed by Citigroup from $8.00 to $7.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on DENN. Oppenheimer reduced their price target on Denny’s from $11.00 to $10.00 and set an outperform rating for the company in a report on Wednesday, July 31st. Truist Financial dropped 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. Wedbush reduced their price target on shares of Denny’s from $8.50 to $8.00 and set a neutral rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark reaffirmed a buy rating and issued a $15.00 price objective on shares of Denny’s in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $10.00.

Denny’s Price Performance

NASDAQ:DENN opened at $6.47 on Tuesday. The firm has a market capitalization of $336.56 million, a P/E ratio of 15.05, a PEG ratio of 1.23 and a beta of 2.02. Denny’s has a one year low of $5.59 and a one year high of $11.16. The company’s 50-day simple moving average is $6.25 and its 200 day simple moving average is $7.04.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $118.98 million. Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities research analysts expect that Denny’s will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DENN. Vanguard Group Inc. grew its position 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 worth $29,885,000 after purchasing an additional 89,465 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Denny’s by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock worth $9,889,000 after acquiring an additional 146,658 shares during the period. Boston Partners purchased a new stake in Denny’s during the first quarter valued at $193,000. Price T Rowe Associates Inc. MD boosted its position in Denny’s by 56.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 122,850 shares of the restaurant operator’s stock worth $1,102,000 after purchasing an additional 44,163 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Denny’s by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after purchasing an additional 84,371 shares during the period. 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.