Denny’s (NASDAQ:DENN) Stock Rating Upgraded by StockNews.com

Denny’s (NASDAQ:DENN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

DENN has been the subject of several other reports. Wedbush decreased their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday. Oppenheimer decreased their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $15.00 price target on shares of Denny’s in a research note on Wednesday, July 31st. Citigroup cut their price target on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial cut their price target 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Denny’s Trading Up 13.8 %

Shares of DENN opened at $6.26 on Wednesday. The firm has a market capitalization of $321.58 million, a price-to-earnings ratio of 18.97, a PEG ratio of 1.11 and a beta of 2.02. The firm’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.95. Denny’s has a twelve month low of $5.37 and a twelve month high of $11.16.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. Denny’s’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. On average, analysts predict that Denny’s will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DENN. Allspring Global Investments Holdings LLC increased its stake 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 during the period. Millennium Management LLC increased its stake in Denny’s by 1,487.7% in the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after purchasing an additional 498,051 shares during the period. First Eagle Investment Management LLC increased its stake 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 during the period. Skylands Capital LLC increased its stake in Denny’s by 143.7% in the second quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock valued at $1,839,000 after purchasing an additional 152,700 shares during the period. Finally, Vanguard Group Inc. increased its stake in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after purchasing an additional 89,465 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.