Denny’s (NASDAQ:DENN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Denny’s (NASDAQ:DENN) had its price objective lifted by Oppenheimer from $7.00 to $8.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other equities research analysts have also recently weighed in on DENN. Wedbush decreased their price target 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. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $7.50 in a research report on Friday, October 25th. Truist Financial decreased their price target on 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 dropped their price objective 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Denny’s presently has an average rating of “Moderate Buy” and an average target price of $7.90.

Denny’s Price Performance

DENN stock opened at $6.15 on Tuesday. The stock has a market cap of $315.67 million, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.33 and a beta of 2.01. The company has a 50 day simple moving average of $6.36 and a 200 day simple moving average of $6.46. Denny’s has a 1 year low of $5.37 and a 1 year 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 during the quarter, compared to analyst estimates of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, equities research analysts anticipate that Denny’s will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Denny’s by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,694 shares in the last quarter. Creative Planning raised its holdings in shares of Denny’s by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock worth $243,000 after acquiring an additional 2,273 shares during the last quarter. Quarry LP lifted its position in Denny’s by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 2,617 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in Denny’s by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock valued at $540,000 after purchasing an additional 2,775 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Denny’s by 0.3% in the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock worth $7,585,000 after purchasing an additional 3,142 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.