Denny’s Co. (NASDAQ:DENN) Receives Average Recommendation of “Buy” from Brokerages

Denny’s Co. (NASDAQ:DENN) has been assigned a consensus rating of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.22.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Denny’s from a “sell” rating to a “hold” rating in a research report on Thursday. Benchmark assumed coverage on Denny’s in a research report on Thursday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. Wells Fargo & Company lowered their price objective on Denny’s from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, November 3rd. Deutsche Bank Aktiengesellschaft started coverage on Denny’s in a report on Thursday, October 7th. They issued a “hold” rating and a $17.00 target price for the company. Finally, Truist upgraded Denny’s from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $18.00 in a report on Thursday, October 21st.

NASDAQ:DENN opened at $15.85 on Friday. The stock’s 50-day simple moving average is $15.24 and its 200 day simple moving average is $15.57. The firm has a market capitalization of $1.00 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.71. Denny’s has a twelve month low of $13.33 and a twelve month high of $20.02.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, November 2nd. The restaurant operator reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. Denny’s had a negative return on equity of 18.57% and a net margin of 9.98%. The firm had revenue of $103.79 million for the quarter, compared to analyst estimates of $110.77 million. During the same period last year, the firm posted $0.01 earnings per share. As a group, sell-side analysts anticipate that Denny’s will post 0.52 EPS for the current fiscal year.

In other Denny’s news, Director Donald C. Robinson sold 15,938 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $16.01, for a total value of $255,167.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Denny’s by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,064,510 shares of the restaurant operator’s stock valued at $131,774,000 after buying an additional 20,964 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Denny’s by 1.2% during the 2nd quarter. Wells Fargo & Company MN now owns 6,800,717 shares of the restaurant operator’s stock valued at $112,143,000 after purchasing an additional 79,575 shares during the period. Wellington Management Group LLP raised its stake in shares of Denny’s by 69.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,870,874 shares of the restaurant operator’s stock valued at $79,590,000 after purchasing an additional 1,996,160 shares during the period. Vanguard Group Inc. raised its stake in shares of Denny’s by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,257,672 shares of the restaurant operator’s stock valued at $53,718,000 after purchasing an additional 33,888 shares during the period. Finally, FMR LLC increased its stake in Denny’s by 102.6% in the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after acquiring an additional 1,211,020 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It offers offers a wide selection of lunch and dinner items including burgers, sandwiches, salads and skillet entrĂ©es, along with an assortment of beverages, appetizers, and desserts. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.

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Analyst Recommendations for Denny's (NASDAQ:DENN)

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