Brokerages Set Denny’s Corporation (NASDAQ:DENN) PT at $5.96

Denny’s Corporation (NASDAQ:DENN) has received a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.9643.

Several research firms have recently commented on DENN. Mizuho raised shares of Denny’s to a “hold” rating in a report on Tuesday, October 28th. Truist Financial reaffirmed a “hold” rating and issued a $6.00 price target on shares of Denny’s in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Denny’s in a research report on Monday, December 29th. Oppenheimer lowered Denny’s from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. Finally, Benchmark cut Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, November 5th.

Denny’s Stock Down 0.2%

Shares of NASDAQ:DENN opened at $6.21 on Friday. Denny’s has a 52-week low of $2.85 and a 52-week high of $7.66. The stock has a market cap of $319.82 million, a price-to-earnings ratio of 31.05 and a beta of 1.37. The business has a 50-day moving average price of $5.95 and a 200-day moving average price of $5.03.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Denny’s had a negative return on equity of 60.26% and a net margin of 2.24%.The business had revenue of $113.24 million during the quarter, compared to analyst estimates of $116.91 million. During the same quarter last year, the company posted $0.14 EPS. Denny’s’s quarterly revenue was up 202.6% compared to the same quarter last year. As a group, equities analysts anticipate that Denny’s will post 0.5 EPS for the current fiscal year.

Insider Transactions at Denny’s

In related news, insider Jumana Capital Investments Llc purchased 250,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $4.08 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the insider owned 4,524,905 shares of the company’s stock, valued at $18,461,612.40. The trade was a 5.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 433,307 shares of company stock valued at $1,945,837 over the last three months. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

Institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its stake in shares of Denny’s by 6.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,949,248 shares of the restaurant operator’s stock worth $7,992,000 after acquiring an additional 110,722 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Denny’s by 170.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 184,898 shares of the restaurant operator’s stock worth $758,000 after purchasing an additional 116,575 shares during the period. Boston Partners raised its holdings in Denny’s by 56.7% in the 2nd quarter. Boston Partners now owns 3,951,187 shares of the restaurant operator’s stock worth $16,196,000 after purchasing an additional 1,430,102 shares during the period. Nuveen LLC purchased a new position in Denny’s during the first quarter worth approximately $688,000. Finally, Mork Capital Management LLC grew its holdings in Denny’s by 142.9% in the first quarter. Mork Capital Management LLC now owns 170,000 shares of the restaurant operator’s stock valued at $624,000 after purchasing an additional 100,000 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

About Denny’s

Denny’s Corporation operates one of the largest full-service, family?style restaurant chains in the United States, specializing in classic American diner fare. The company’s menu features breakfast, lunch and dinner offerings served around the clock, with signature items such as the Grand Slam breakfast, burgers, sandwiches and a variety of savory skillets. As a publicly traded entity under the symbol DENN on NASDAQ, Denny’s focuses on providing an accessible dining experience for a broad customer base, including families, travelers and late?night diners.

The company’s business model combines both franchised and company?owned locations.