Denny’s (NASDAQ:DENN) Price Target Cut to $10.00

Denny’s (NASDAQ:DENN) had its target price decreased by Truist Financial from $11.00 to $10.00 in a research report sent to investors on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

A number of other equities analysts have also commented on DENN. Wedbush decreased their price objective on shares of Denny’s from $10.50 to $9.50 and set a neutral rating for the company in a research note on Friday, April 26th. Oppenheimer decreased their price objective on shares of Denny’s from $12.00 to $11.00 and set an outperform rating for the company in a research note on Wednesday, May 1st. StockNews.com lowered shares of Denny’s from a buy rating to a hold rating in a research note on Thursday, May 2nd. Finally, Benchmark reaffirmed a buy rating and issued a $15.00 price objective on shares of Denny’s in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $11.08.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $6.94 on Tuesday. The stock has a market capitalization of $361.02 million, a price-to-earnings ratio of 16.14, a PEG ratio of 1.20 and a beta of 2.01. Denny’s has a 1-year low of $6.33 and a 1-year high of $12.17. The company has a 50 day moving average price of $7.16 and a 200 day moving average price of $8.69.

Denny’s (NASDAQ:DENN) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The business had revenue of $109.97 million for the quarter, compared to the consensus estimate of $115.17 million. Denny’s had a negative return on equity of 63.27% and a net margin of 5.27%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. On average, sell-side analysts expect that Denny’s will post 0.61 EPS for the current fiscal year.

Insider Activity

In other Denny’s news, CFO Robert P. Verostek purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $6.53 per share, for a total transaction of $65,300.00. Following the acquisition, the chief financial officer now owns 24,000 shares of the company’s stock, valued at $156,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Jay C. Gilmore acquired 12,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $6.51 per share, for a total transaction of $78,120.00. Following the acquisition, the chief accounting officer now owns 121,227 shares in the company, valued at approximately $789,187.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert P. Verostek acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $6.53 per share, for a total transaction of $65,300.00. Following the acquisition, the chief financial officer now owns 24,000 shares in the company, valued at approximately $156,720. The disclosure for this purchase can be found here. 4.20% of the stock is owned by insiders.

Institutional Trading of Denny’s

Several institutional investors have recently made changes to their positions in DENN. CWM LLC boosted its position in Denny’s by 726.2% in the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 3,239 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Denny’s by 126.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 2,536 shares in the last quarter. Quest Partners LLC acquired a new position in Denny’s in the fourth quarter valued at about $96,000. Trexquant Investment LP acquired a new position in Denny’s in the fourth quarter valued at about $136,000. Finally, Diversified Trust Co boosted its position in Denny’s by 16.4% in the fourth quarter. Diversified Trust Co now owns 15,546 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 2,186 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.