Denny’s (NASDAQ:DENN) Given New $6.00 Price Target at Wedbush

Denny’s (NASDAQ:DENN) had its price target lowered by Wedbush from $7.00 to $6.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s target price indicates a potential upside of 9.69% from the company’s current price.

Several other research firms have also recently issued reports on DENN. Citigroup decreased their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Oppenheimer decreased their price objective on Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $15.00 price objective on shares of Denny’s in a report on Wednesday, July 31st. Finally, Truist Financial cut their target price on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Three equities research 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 an average rating of “Moderate Buy” and an average target price of $9.60.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $5.47 on Wednesday. The business’s fifty day moving average price is $6.31 and its two-hundred day moving average price is $6.96. The stock has a market cap of $284.54 million, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.35 and a beta of 2.02. Denny’s has a one year low of $5.37 and a one year high of $11.16.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. During the same quarter last year, the business earned $0.17 EPS. Denny’s’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Denny’s will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Denny’s by 6.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after purchasing an additional 558,964 shares during the period. Creative Planning raised its position in 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. SG Americas Securities LLC purchased a new position in Denny’s in the third quarter valued at about $120,000. Sanctuary Advisors LLC purchased a new position in Denny’s in the second quarter valued at about $77,000. Finally, Quarry LP raised its position in Denny’s by 161.5% in the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,617 shares during the period. 85.07% of the stock is 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.