Brokerages Set Denny’s Co. (NASDAQ:DENN) PT at $7.70

Shares of Denny’s Co. (NASDAQ:DENN) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.70.

A number of equities research analysts have recently issued reports on DENN shares. Wedbush lowered their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price objective for the company from $7.00 to $7.50 in a research report on Friday, October 25th. StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial lowered their price target on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Benchmark cut their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 25th.

Institutional Trading of Denny’s

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Denny’s by 6.9% during the 3rd 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. First Eagle Investment Management LLC grew its holdings in Denny’s by 14.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after buying an additional 155,100 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Denny’s during the third quarter valued at about $1,387,000. Intech Investment Management LLC acquired a new stake in shares of Denny’s in the 3rd quarter worth approximately $83,000. Finally, AQR Capital Management LLC increased its position 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 institutional investors.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $5.87 on Monday. Denny’s has a 1 year low of $5.37 and a 1 year high of $11.16. The stock has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $6.49. The stock has a market capitalization of $301.30 million, a P/E ratio of 17.79, a PEG ratio of 1.33 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The business had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $115.46 million. During the same period last year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts predict that Denny’s will post 0.52 earnings per share for the current 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.