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

Denny’s (NASDAQ:DENN) had its price target cut by Oppenheimer from $11.00 to $10.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on DENN. Truist Financial reduced 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 note on Tuesday, July 9th. Benchmark reiterated a buy rating and issued a $15.00 price target on shares of Denny’s in a research report on Wednesday, May 1st. StockNews.com cut Denny’s from a buy rating to a hold rating in a report on Thursday, May 2nd. Finally, Wedbush decreased their price target on Denny’s from $8.50 to $8.00 and set a neutral rating on the stock in a research report on Wednesday. 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, the company currently has an average rating of Moderate Buy and a consensus target price of $10.40.

Denny’s Stock Performance

NASDAQ DENN opened at $6.58 on Wednesday. The company has a market capitalization of $342.29 million, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.40 and a beta of 2.01. Denny’s has a 52-week low of $6.33 and a 52-week high of $11.16. The company has a 50-day simple moving average of $6.99 and a 200 day simple moving average of $8.30.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $118.98 million. Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. As a group, analysts forecast that Denny’s will post 0.56 EPS for the current fiscal year.

Insider Activity at Denny’s

In other Denny’s news, Director Brenda J. Lauderback sold 11,145 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $7.36, for a total value of $82,027.20. Following the completion of the transaction, the director now owns 15,406 shares of the company’s stock, valued at approximately $113,388.16. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Brenda J. Lauderback sold 11,145 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $7.36, for a total transaction of $82,027.20. Following the completion of the sale, the director now owns 15,406 shares of the company’s stock, valued at $113,388.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Verostek bought 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was purchased 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 directly owns 24,000 shares of the company’s stock, valued at approximately $156,720. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denny’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC grew its stake in shares of Denny’s by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock worth $9,889,000 after purchasing an additional 146,658 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Denny’s by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock worth $27,724,000 after buying an additional 108,758 shares during the period. Russell Investments Group Ltd. grew its position in shares of Denny’s by 75.6% in the 4th quarter. Russell Investments Group Ltd. now owns 222,943 shares of the restaurant operator’s stock worth $2,426,000 after buying an additional 96,002 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Denny’s in the 4th quarter worth approximately $96,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Denny’s by 0.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,093,427 shares of the restaurant operator’s stock valued at $88,056,000 after buying an additional 43,969 shares during the period. 85.07% of the stock is owned by 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.