Denny’s (NASDAQ:DENN) Price Target Lowered to $6.00 at Wedbush

Denny’s (NASDAQ:DENN) had its target price decreased by Wedbush from $7.00 to $6.00 in a report issued on Wednesday morning, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock.

DENN has been the topic of a number of other research reports. Oppenheimer lowered their price target on Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Citigroup lowered their price target on Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Truist Financial lowered their price target on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Benchmark restated a “buy” rating and set a $15.00 price target on shares of Denny’s in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Denny’s Stock Performance

Shares of DENN stock opened at $5.50 on Wednesday. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The company has a market capitalization of $282.54 million, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02. The business’s fifty day moving average is $6.30 and its 200 day moving average is $6.95.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. During the same quarter last year, the business posted $0.17 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Denny’s will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC bought a new position in shares of Denny’s during the third quarter valued at about $428,000. Assenagon Asset Management S.A. bought a new stake in shares of Denny’s in the third quarter worth about $217,000. Allspring Global Investments Holdings LLC grew its stake in shares of Denny’s by 6.9% in 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 last quarter. Creative Planning grew its stake in shares of Denny’s by 6.4% in the third quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock worth $243,000 after purchasing an additional 2,273 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Denny’s in the third quarter worth about $120,000. 85.07% of the stock is owned by 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.