StockNews.com Downgrades Denny’s (NASDAQ:DENN) to Hold

Denny’s (NASDAQ:DENN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also recently weighed in on the company. Benchmark cut their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and raised their price objective for the company from $7.00 to $7.50 in a research note on Friday, October 25th. 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, October 23rd. Oppenheimer increased their target price on shares of Denny’s from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Truist Financial dropped their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average target price of $7.90.

Denny’s Price Performance

Shares of NASDAQ DENN opened at $5.61 on Monday. The stock has a market capitalization of $287.96 million, a PE ratio of 17.00, a P/E/G ratio of 1.33 and a beta of 2.01. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The business has a fifty day moving average price of $6.29 and a two-hundred day moving average price of $6.42.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 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 48.64%. The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. During the same period in the prior year, the business earned $0.17 earnings per share. Denny’s’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Denny’s will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Denny’s

Large investors have recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Denny’s in the second quarter worth $25,000. First Eagle Investment Management LLC grew its position in shares of Denny’s by 14.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after buying an additional 155,100 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Denny’s in the second quarter valued at about $90,000. Canada Pension Plan Investment Board acquired a new stake in shares of Denny’s in the second quarter valued at about $31,000. Finally, Sei Investments Co. raised its position in shares of Denny’s by 25.3% during the second quarter. Sei Investments Co. now owns 152,099 shares of the restaurant operator’s stock worth $1,080,000 after acquiring an additional 30,681 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.