Denny’s (NASDAQ:DENN) PT Lowered to $7.00 at Oppenheimer

Denny’s (NASDAQ:DENN) had its price target decreased by Oppenheimer from $10.00 to $7.00 in a report released on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

Several other equities analysts also recently weighed in on the company. Wedbush decreased their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $15.00 target price on shares of Denny’s in a research note on Wednesday, July 31st. Truist Financial reduced their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Citigroup lowered their price target on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Denny’s Price Performance

Shares of NASDAQ:DENN opened at $6.56 on Wednesday. The firm has a market capitalization of $341.24 million, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02. The business’s 50 day moving average price is $6.31 and its 200-day moving average price is $6.93. Denny’s has a 1 year low of $5.37 and a 1 year high of $11.16.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, October 22nd. 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 48.06%. The company had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Denny’s will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in 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 worth $55,693,000 after purchasing an additional 558,964 shares during the period. Millennium Management LLC raised its position in shares of Denny’s by 1,487.7% during the 2nd quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after buying an additional 498,051 shares during the period. First Eagle Investment Management LLC lifted its holdings in Denny’s by 14.1% in the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after acquiring an additional 155,100 shares during the last quarter. Skylands Capital LLC grew its position in Denny’s by 143.7% in the second quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock worth $1,839,000 after acquiring an additional 152,700 shares during the period. Finally, Vanguard Group Inc. increased its stake in Denny’s by 2.8% during the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after acquiring an additional 89,465 shares during the last quarter. Institutional investors and hedge funds 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.