Truist Financial Trims Denny’s (NASDAQ:DENN) Target Price to $10.00

Denny’s (NASDAQ:DENN) had its target price decreased by Truist Financial from $11.00 to $10.00 in a report issued on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Denny’s from a buy rating to a hold rating in a research report on Thursday, May 2nd. Oppenheimer reduced their price objective on shares of Denny’s from $12.00 to $11.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Wedbush reduced their price objective on shares of Denny’s from $10.50 to $9.50 and set a neutral rating for the company in a research report on Friday, April 26th. Finally, Benchmark reiterated a buy rating and set a $15.00 price target on shares of Denny’s in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Denny’s currently has an average rating of Hold and a consensus price target of $11.08.

Denny’s Stock Up 6.3 %

NASDAQ DENN opened at $6.94 on Tuesday. Denny’s has a 52-week low of $6.33 and a 52-week high of $12.17. The business’s 50-day moving average price is $7.16 and its 200 day moving average price is $8.69. The firm has a market cap of $361.02 million, a P/E ratio of 16.14, a P/E/G ratio of 1.20 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $109.97 million during the quarter, compared to analyst estimates of $115.17 million. Denny’s had a net margin of 5.27% and a negative return on equity of 63.27%. Denny’s’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, analysts anticipate that Denny’s will post 0.61 earnings per share for the current year.

Insider Activity

In related news, CFO Robert P. Verostek acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $65,300.00. Following the transaction, the chief financial officer now directly owns 24,000 shares of the company’s stock, valued at approximately $156,720. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Robert P. Verostek acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $65,300.00. Following the transaction, the chief financial officer now directly owns 24,000 shares of the company’s stock, valued at approximately $156,720. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jay C. Gilmore acquired 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $6.51 per share, with a total value of $78,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 121,227 shares in the company, valued at $789,187.77. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Institutional Trading of Denny’s

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Olstein Capital Management L.P. grew its stake in Denny’s by 9.9% in the 2nd quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock worth $6,364,000 after acquiring an additional 80,587 shares during the period. CWM LLC grew its stake in Denny’s by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 3,239 shares during the period. Boston Partners purchased a new stake in Denny’s in the 1st quarter worth approximately $193,000. Price T Rowe Associates Inc. MD grew its stake in Denny’s by 56.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 122,850 shares of the restaurant operator’s stock worth $1,102,000 after acquiring an additional 44,163 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 acquiring an additional 89,465 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.