Truist Financial Cuts Denny’s (NASDAQ:DENN) Price Target to $8.00

Denny’s (NASDAQ:DENN) had its target price lowered by Truist Financial from $10.00 to $8.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $7.50 in a research report on Friday, October 25th. Benchmark cut their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wedbush reduced their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer dropped their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Denny’s has a consensus rating of “Moderate Buy” and an average target price of $7.70.

Denny’s Price Performance

Shares of DENN opened at $6.62 on Monday. Denny’s has a one year low of $5.37 and a one year high of $11.16. The company has a market capitalization of $340.10 million, a P/E ratio of 15.40, a PEG ratio of 1.38 and a beta of 2.02. The business’s 50 day simple moving average is $6.34 and its 200-day simple moving average is $6.88.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data 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 negative return on equity of 48.06% and a net margin of 3.90%. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Denny’s will post 0.53 EPS for the current fiscal year.

Institutional Trading of Denny’s

A number of institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Denny’s by 6.9% in the 3rd 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 in the last quarter. Millennium Management LLC raised its stake in Denny’s by 1,487.7% in the 2nd quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after acquiring an additional 498,051 shares during the period. First Eagle Investment Management LLC increased its stake in shares of 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 worth $8,938,000 after purchasing an additional 155,100 shares in the last quarter. Skylands Capital LLC raised its position in shares of Denny’s by 143.7% in the second quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock valued at $1,839,000 after purchasing an additional 152,700 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Denny’s by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after buying an additional 89,465 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.