Denny’s (NASDAQ:DENN) Price Target Lowered to $7.00 at Citigroup

Denny’s (NASDAQ:DENN) had its price objective dropped by Citigroup from $8.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price indicates a potential upside of 38.20% from the stock’s current price.

Several other research analysts also recently commented on DENN. Oppenheimer lowered their target price on Denny’s from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday. Wedbush lowered their target price on Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a report on Thursday. Benchmark dropped their price target on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Truist Financial lowered their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Denny’s Price Performance

NASDAQ:DENN traded down $0.06 during mid-day trading on Thursday, reaching $5.07. The stock had a trading volume of 2,434,057 shares, compared to its average volume of 1,129,233. The stock has a 50-day simple moving average of $6.15 and a two-hundred day simple moving average of $6.31. Denny’s has a 12 month low of $4.91 and a 12 month high of $9.56. The stock has a market capitalization of $259.99 million, a PE ratio of 15.35, a P/E/G ratio of 1.27 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Wednesday, February 12th. 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 net margin of 3.90% and a negative return on equity of 48.64%. Equities analysts expect that Denny’s will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Denny’s

A number of hedge funds have recently added to or reduced their stakes in DENN. The Manufacturers Life Insurance Company raised its position in shares of Denny’s by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,694 shares during the period. Sanctuary Advisors LLC acquired a new position in Denny’s during the second quarter worth $77,000. SG Americas Securities LLC bought a new position in shares of Denny’s in the third quarter valued at $120,000. Creative Planning lifted its stake 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 buying an additional 2,273 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew 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 valued at $55,693,000 after buying an additional 558,964 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.