Wedbush Trims Denny’s (NASDAQ:DENN) Target Price to $9.50

Denny’s (NASDAQ:DENN) had its target price reduced by Wedbush from $10.50 to $9.50 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other analysts also recently issued reports on DENN. Truist Financial dropped their price target on shares of Denny’s from $13.00 to $12.00 and set a buy rating on the stock in a report on Wednesday, February 14th. StockNews.com upgraded Denny’s from a hold rating to a buy rating in a research note on Friday, April 19th. Finally, Oppenheimer cut their price target on Denny’s from $13.00 to $12.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $11.75.

Denny’s Price Performance

Shares of DENN opened at $8.07 on Friday. Denny’s has a one year low of $8.00 and a one year high of $12.53. The firm has a market capitalization of $428.52 million, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.93. The company has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $9.51.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. Denny’s’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Analysts expect that Denny’s will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling at Denny’s

In related news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the sale, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Denny’s

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in 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 worth $88,056,000 after acquiring an additional 43,969 shares during the last quarter. Vanguard Group Inc. raised its holdings in Denny’s by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock valued at $27,724,000 after buying an additional 108,758 shares during the period. Earnest Partners LLC lifted its position in Denny’s by 17.4% in the third quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after buying an additional 228,709 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Denny’s by 17.4% during the fourth quarter. First Eagle Investment Management LLC now owns 957,069 shares of the restaurant operator’s stock worth $10,413,000 after buying an additional 141,584 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Denny’s by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 792,732 shares of the restaurant operator’s stock valued at $8,625,000 after acquiring an additional 20,181 shares during the last quarter. 85.07% of the stock is currently 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.