Denny’s (NASDAQ:DENN) Price Target Cut to $9.50 by Analysts at Wedbush

Denny’s (NASDAQ:DENN) had its target price dropped by stock analysts at Wedbush from $10.50 to $9.50 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price objective suggests a potential upside of 15.85% from the stock’s current price.

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

Denny’s Stock Performance

NASDAQ:DENN traded down $0.05 during trading on Friday, reaching $8.20. The company’s stock had a trading volume of 528,100 shares, compared to its average volume of 480,909. The firm has a market cap of $435.42 million, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.45 and a beta of 1.93. Denny’s has a 12 month low of $8.00 and a 12 month high of $12.53. The firm has a 50 day moving average of $8.83 and a 200-day 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 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $115.40 million during the quarter, compared to the consensus estimate of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Equities research analysts forecast that Denny’s will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at Denny’s

In other news, Director John C. Miller sold 35,359 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.25, for a total value of $327,070.75. Following the transaction, the director now owns 740,626 shares in the company, valued at $6,850,790.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in Denny’s by 0.5% in 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 purchasing an additional 43,969 shares during the period. Vanguard Group Inc. boosted its stake in Denny’s by 3.4% during the third quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock worth $27,724,000 after acquiring an additional 108,758 shares in the last quarter. Earnest Partners LLC grew its holdings 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 purchasing an additional 228,709 shares during the period. First Eagle Investment Management LLC increased its stake in shares of 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 valued at $10,413,000 after purchasing an additional 141,584 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 20,181 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.