Denny’s (NASDAQ:DENN) PT Lowered to $10.00 at Benchmark

Denny’s (NASDAQ:DENN) had its target price lowered by Benchmark from $15.00 to $10.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also recently issued reports on the company. Wedbush reduced their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $7.50 in a research note on Friday. Oppenheimer lowered their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial cut their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Denny’s Stock Up 4.8 %

Shares of DENN opened at $6.56 on Friday. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The company has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $6.93. The company has a market capitalization of $341.24 million, a PE ratio of 15.26, a P/E/G ratio of 1.11 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last issued 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 company had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.06%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. On average, research analysts anticipate that Denny’s will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Denny’s

A number of hedge funds and other institutional investors have recently modified their holdings of DENN. Ballentine Partners LLC acquired a new stake in Denny’s during the third quarter worth approximately $428,000. Assenagon Asset Management S.A. purchased a new position in shares of Denny’s during the 3rd quarter worth $217,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Denny’s by 6.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock worth $55,693,000 after purchasing an additional 558,964 shares during the last quarter. Creative Planning grew its position in shares of Denny’s by 6.4% in the third quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after purchasing an additional 2,273 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Denny’s in the third quarter valued at $120,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.