Denny’s (NASDAQ:DENN) Price Target Cut to $6.00

Denny’s (NASDAQ:DENN) had its price objective dropped by research analysts at Wedbush from $7.00 to $6.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price would suggest a potential upside of 9.69% from the stock’s current price.

A number of other equities analysts also recently commented on DENN. Oppenheimer decreased their price target on Denny’s from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Benchmark reiterated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a research note on Wednesday, July 31st. Citigroup decreased their price target on Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Truist Financial decreased their price target on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Denny’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.60.

Denny’s Stock Performance

Shares of NASDAQ DENN opened at $5.47 on Wednesday. Denny’s has a 1 year low of $5.37 and a 1 year high of $11.16. The firm has a market cap of $284.54 million, a price-to-earnings ratio of 12.72, a PEG ratio of 1.35 and a beta of 2.02. The stock’s 50-day simple moving average is $6.31 and its 200-day simple moving average is $6.96.

Denny’s (NASDAQ:DENN) last announced 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 analysts’ expectations of $115.46 million. Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, research analysts predict that Denny’s will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Denny’s

A number of hedge funds have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Denny’s during the second quarter worth approximately $25,000. CWM LLC raised its holdings in Denny’s by 726.2% during the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 3,239 shares in the last quarter. Quarry LP raised its holdings in 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 purchasing an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Denny’s in the second quarter valued at $31,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Denny’s in the second quarter valued at $77,000. Institutional investors own 85.07% of the company’s stock.

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.