Oppenheimer Issues Positive Forecast for Denny’s (NASDAQ:DENN) Stock Price

Denny’s (NASDAQ:DENN) had its price objective boosted by equities research analysts at Oppenheimer from $7.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target would suggest a potential upside of 25.00% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Benchmark dropped their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Truist Financial dropped their target price on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.00 to $7.50 in a research report on Friday, October 25th. Wedbush dropped their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Denny’s currently has an average rating of “Moderate Buy” and a consensus price target of $7.90.

Denny’s Price Performance

Shares of DENN opened at $6.40 on Tuesday. The firm has a 50-day moving average of $6.37 and a 200-day moving average of $6.47. Denny’s has a one year low of $5.37 and a one year high of $11.16. The company has a market cap of $328.51 million, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $115.46 million. During the same quarter last year, the firm earned $0.17 EPS. Denny’s’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts expect that Denny’s will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently added to or reduced their stakes in DENN. Quest Partners LLC acquired a new position in Denny’s during the 2nd quarter worth approximately $25,000. Rice Hall James & Associates LLC increased its position 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 worth $540,000 after purchasing an additional 2,775 shares in the last quarter. First Eagle Investment Management LLC increased its position in Denny’s by 14.1% during 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. XTX Topco Ltd acquired a new position in Denny’s during the 2nd quarter worth approximately $90,000. Finally, Canada Pension Plan Investment Board acquired a new position in Denny’s during the 2nd quarter worth approximately $31,000. 85.07% of the stock is currently 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.