Denny’s (NASDAQ:DENN) PT Lowered to $9.50 at Wedbush

Denny’s (NASDAQ:DENN) had its price target cut by investment analysts at Wedbush from $10.50 to $9.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 15.85% from the stock’s current price.

Several other equities analysts have also commented on the company. Truist Financial dropped their target price on Denny’s from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Oppenheimer lowered their price target on Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.75.

Denny’s Stock Down 0.6 %

NASDAQ:DENN traded down $0.05 during trading hours on Friday, reaching $8.20. 528,100 shares of the stock were exchanged, compared to its average volume of 480,909. Denny’s has a twelve month low of $8.00 and a twelve month high of $12.53. The business has a 50-day moving average of $8.83 and a two-hundred day moving average of $9.51. The company has a market capitalization of $435.42 million, a price-to-earnings ratio of 23.46, a PEG ratio of 1.45 and a beta of 1.93.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 EPS 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 net margin of 4.30% and a negative return on equity of 70.78%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, research analysts forecast that Denny’s will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John C. Miller sold 35,359 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,850,790.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

Several hedge funds have recently bought and sold shares of DENN. First Eagle Investment Management LLC grew its stake in Denny’s by 43.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after acquiring an additional 247,470 shares during the period. Aigen Investment Management LP acquired a new position in Denny’s in the third quarter valued at $495,000. North Star Investment Management Corp. lifted its position in Denny’s by 95.6% during the fourth quarter. North Star Investment Management Corp. now owns 431,700 shares of the restaurant operator’s stock worth $4,697,000 after buying an additional 211,000 shares during the period. Earnest Partners LLC boosted its stake in Denny’s by 17.4% in the 3rd quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after buying an additional 228,709 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Denny’s by 16.4% in the 4th quarter. Diversified Trust Co now owns 15,546 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 2,186 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.