Truist Financial Cuts Denny’s (NASDAQ:DENN) Price Target to $8.00

Denny’s (NASDAQ:DENN) had its price target trimmed by Truist Financial from $10.00 to $8.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other analysts also recently issued reports on DENN. Benchmark decreased their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Wedbush reduced their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Oppenheimer lowered their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Price Performance

Shares of NASDAQ DENN opened at $6.62 on Monday. Denny’s has a 1 year low of $5.37 and a 1 year high of $11.16. The stock has a market cap of $340.10 million, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.38 and a beta of 2.02. The firm has a 50-day moving average of $6.34 and a 200 day moving average of $6.88.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share 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 the consensus estimate of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.06%. Denny’s’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. Research analysts expect that Denny’s will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denny’s

A number of large investors have recently made changes to their positions in DENN. Vanguard Group Inc. lifted its holdings in Denny’s by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after buying an additional 89,465 shares in the last quarter. First Eagle Investment Management LLC raised its position in Denny’s by 15.3% in the 1st quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after purchasing an additional 146,658 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Denny’s by 6.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock worth $55,693,000 after buying an additional 558,964 shares during the last quarter. Boston Partners acquired a new stake in shares of Denny’s during the first quarter worth $193,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Denny’s by 63.8% in the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after acquiring an additional 84,371 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.