Denny’s (NASDAQ:DENN) Given New $6.00 Price Target at Wedbush

Denny’s (NASDAQ:DENN) had its price objective trimmed by Wedbush from $7.00 to $6.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other analysts also recently commented on DENN. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a research note on Wednesday, July 31st. Truist Financial lowered their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Oppenheimer lowered their price objective on Denny’s from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup reduced their target price on Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Denny’s Stock Performance

DENN stock opened at $5.50 on Wednesday. The stock’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $6.95. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The company has a market cap of $282.54 million, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Equities analysts predict that Denny’s will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Denny’s

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new position in Denny’s during the second quarter valued at $25,000. CWM LLC grew its holdings in Denny’s by 726.2% during the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 3,239 shares during the period. Quarry LP grew its holdings in Denny’s by 161.5% during the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,617 shares during the period. Canada Pension Plan Investment Board bought a new position in Denny’s during the second quarter valued at $31,000. Finally, Sanctuary Advisors LLC bought a new position in Denny’s during the second quarter valued at $77,000. 85.07% of the stock is owned by 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.