Denny’s Co. (NASDAQ:DENN) Receives $11.92 Consensus Target Price from Brokerages

Denny’s Co. (NASDAQ:DENN) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.92.

Several brokerages have commented on DENN. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. Oppenheimer lowered their price objective on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Truist Financial lowered their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Finally, Wedbush lowered their price objective on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th.

Insider Activity

In other news, Director John C. Miller sold 35,359 shares of Denny’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the completion of the transaction, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Denny’s

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Denny’s during the first quarter valued at approximately $29,000. Tower Research Capital LLC TRC increased its position in shares of Denny’s by 100.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,317 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 1,665 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Denny’s by 31.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,535 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 844 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Denny’s by 37.3% during the first quarter. First Horizon Advisors Inc. now owns 3,920 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Denny’s by 126.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 2,536 shares during the period. Institutional investors own 85.07% of the company’s stock.

Denny’s Trading Down 1.1 %

Denny’s stock opened at $8.96 on Friday. The firm has a 50-day moving average of $9.60 and a 200-day moving average of $9.53. The firm has a market cap of $475.78 million, a P/E ratio of 25.60, a P/E/G ratio of 1.56 and a beta of 1.94. Denny’s has a 1-year low of $8.11 and a 1-year high of $12.53.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $115.40 million for the quarter, compared to analysts’ expectations of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Research analysts forecast that Denny’s will post 0.64 earnings per share for the current fiscal year.

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.