Denny’s (NASDAQ:DENN) Price Target Cut to $7.00 by Analysts at Oppenheimer

Denny’s (NASDAQ:DENN) had its price objective lowered by Oppenheimer from $10.00 to $7.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other research analysts have also weighed in on DENN. Wedbush cut their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial cut their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Benchmark restated a “buy” rating and set a $15.00 price objective on shares of Denny’s in a research report on Wednesday, July 31st. Finally, Citigroup cut their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Denny’s Stock Performance

Shares of DENN stock opened at $5.50 on Wednesday. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The firm has a market capitalization of $282.54 million, a PE ratio of 16.67, a PEG ratio of 1.11 and a beta of 2.02. The stock has a fifty day simple moving average of $6.30 and a two-hundred day simple moving average of $6.95.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC bought a new position in shares of Denny’s in the 3rd quarter valued at about $428,000. Assenagon Asset Management S.A. bought a new position in shares of Denny’s in the 3rd quarter valued at about $217,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Denny’s by 6.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after acquiring an additional 558,964 shares during the last quarter. Creative Planning lifted its holdings in shares of Denny’s by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after acquiring an additional 2,273 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Denny’s in the third quarter worth about $120,000. 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.