Denny’s (NASDAQ:DENN) Raised to Buy at StockNews.com

Denny’s (NASDAQ:DENN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also commented on DENN. Oppenheimer dropped their target price on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Benchmark cut their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Truist Financial lowered their price target on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wedbush cut their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $7.50 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.70.

Denny’s Trading Down 1.7 %

Shares of NASDAQ DENN opened at $5.77 on Tuesday. The company has a 50 day simple moving average of $6.43 and a two-hundred day simple moving average of $6.51. The stock has a market cap of $296.17 million, a price-to-earnings ratio of 17.48, a PEG ratio of 1.33 and a beta of 2.01. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $111.76 million for 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 company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Analysts forecast that Denny’s will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Denny’s

A number of hedge funds have recently made changes to their positions in DENN. Quest Partners LLC acquired a new position in Denny’s in the 2nd quarter valued at $25,000. Quarry LP grew its holdings in shares of Denny’s by 161.5% during the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after buying an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Denny’s in the second quarter valued at about $31,000. Sanctuary Advisors LLC purchased a new position in shares of Denny’s in the second quarter worth about $77,000. Finally, FMR LLC boosted its position in Denny’s by 95.2% during the third quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock worth $79,000 after acquiring an additional 5,970 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.