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

StockNews.com downgraded shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Several other research firms have also commented on DENN. Wedbush cut their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their target price for the company from $7.00 to $7.50 in a report on Friday, October 25th. Truist Financial lowered their price target on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Oppenheimer cut their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Benchmark lowered 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Denny’s Stock Up 1.6 %

NASDAQ:DENN opened at $6.51 on Thursday. The company has a market cap of $334.16 million, a P/E ratio of 19.73, a P/E/G ratio of 1.36 and a beta of 2.02. The firm’s 50 day moving average is $6.35 and its two-hundred day moving average is $6.87. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16.

Denny’s (NASDAQ:DENN) last issued its 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 during the quarter, compared to analyst estimates of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. Denny’s’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Research analysts forecast that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently added to or reduced their stakes in DENN. BNP Paribas Financial Markets increased its holdings in Denny’s by 20.7% during the 1st quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock worth $382,000 after purchasing an additional 7,309 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Denny’s by 19.9% in the first quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock valued at $2,396,000 after acquiring an additional 44,414 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Denny’s by 87.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock valued at $262,000 after acquiring an additional 13,600 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Denny’s by 15.3% during the 1st quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after acquiring an additional 146,658 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Denny’s by 2.8% during 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 in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.