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

Shares of Denny’s Co. (NASDAQ:DENN) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.70.

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Wedbush reduced their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Oppenheimer cut their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lowered their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Benchmark cut their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Institutional Trading of Denny’s

Several institutional investors have recently added to or reduced their stakes in DENN. Quest Partners LLC bought a new position in Denny’s during the 2nd quarter worth approximately $25,000. Quarry LP increased its position 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 during the period. Canada Pension Plan Investment Board bought a new position in Denny’s during the second quarter worth $31,000. Sanctuary Advisors LLC acquired a new position in Denny’s in the second quarter valued at $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 valued at $79,000 after acquiring an additional 5,970 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Denny’s Stock Performance

Shares of DENN opened at $6.09 on Monday. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The firm has a market cap of $312.59 million, a price-to-earnings ratio of 18.45, a PEG ratio of 1.33 and a beta of 2.01. The business’s fifty day moving average is $6.36 and its 200-day moving average is $6.48.

Denny’s (NASDAQ:DENN) last released 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). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The business had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts forecast that Denny’s will post 0.52 EPS for the current fiscal year.

Denny’s Company Profile

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.