Denny’s (NASDAQ:DENN) Cut to Hold at StockNews.com

StockNews.com cut shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research note released on Monday morning.

DENN has been the topic of a number of other research reports. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.00 to $7.50 in a research note on Friday, October 25th. Wedbush reduced 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. Oppenheimer lifted their price target on Denny’s from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Truist Financial cut their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Benchmark decreased their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.90.

Denny’s Price Performance

Denny’s stock opened at $5.62 on Monday. Denny’s has a 1-year low of $5.37 and a 1-year high of $11.16. The business has a fifty day moving average price of $6.29 and a 200-day moving average price of $6.42. The stock has a market capitalization of $288.47 million, a price-to-earnings ratio of 17.03, a PEG ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last issued 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 business had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. Denny’s’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. On average, equities research analysts anticipate that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $55,693,000 after buying an additional 558,964 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Denny’s by 73.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock worth $8,908,000 after purchasing an additional 583,660 shares in the last quarter. First Eagle Investment Management LLC boosted its position 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 purchasing an additional 155,100 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Denny’s by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after purchasing an additional 3,902 shares during the period. Finally, State Street Corp lifted its stake in shares of Denny’s by 0.3% in the 3rd quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock valued at $7,585,000 after purchasing an additional 3,142 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.