Denny’s (NASDAQ:DENN) Given New $11.00 Price Target at Oppenheimer

Denny’s (NASDAQ:DENN) had its price target cut by Oppenheimer from $12.00 to $11.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other research firms have also weighed in on DENN. StockNews.com raised Denny’s from a hold rating to a buy rating in a research note on Friday, April 19th. Wedbush dropped their price target on Denny’s from $10.50 to $9.50 and set a neutral rating for the company in a research note on Friday, April 26th. Finally, Truist Financial cut their price objective on shares of Denny’s from $13.00 to $12.00 and set a buy rating for the company in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Denny’s has an average rating of Moderate Buy and a consensus target price of $11.42.

Denny’s Price Performance

Shares of NASDAQ:DENN opened at $8.04 on Wednesday. The firm’s 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $9.52. The company has a market capitalization of $426.92 million, a P/E ratio of 18.70, a P/E/G ratio of 1.39 and a beta of 1.94. Denny’s has a 1-year low of $7.82 and a 1-year high of $12.53.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Denny’s had a net margin of 5.27% and a negative return on equity of 66.19%. The firm had revenue of $109.97 million for the quarter, compared to analysts’ expectations of $115.17 million. During the same quarter last year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Denny’s will post 0.64 earnings per share for the current fiscal year.

Insider Activity at Denny’s

In other Denny’s news, Director John C. Miller sold 35,359 shares of Denny’s stock in a transaction that occurred on 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 owns 740,626 shares of the company’s stock, valued at approximately $6,850,790.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denny’s

Several institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Denny’s by 45.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator’s stock valued at $130,000 after buying an additional 4,843 shares in the last quarter. Skylands Capital LLC increased its stake in Denny’s by 194.0% during the third quarter. Skylands Capital LLC now owns 94,075 shares of the restaurant operator’s stock worth $797,000 after acquiring an additional 62,075 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Denny’s by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock valued at $68,179,000 after purchasing an additional 296,554 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Denny’s by 6.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 235,449 shares of the restaurant operator’s stock valued at $1,994,000 after purchasing an additional 13,451 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Denny’s by 48.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 31,854 shares of the restaurant operator’s stock worth $270,000 after purchasing an additional 10,340 shares during the period. Institutional investors own 85.07% of the company’s stock.

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.