Citigroup Lowers Denny’s (NASDAQ:DENN) Price Target to $7.00

Denny’s (NASDAQ:DENN) had its price objective cut by equities researchers at Citigroup from $8.00 to $7.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s price objective points to a potential upside of 7.53% from the company’s previous close.

Several other analysts also recently weighed in on the company. Truist Financial decreased their target price 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. Wedbush cut their target price on shares of Denny’s from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Oppenheimer decreased their price target on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Benchmark reissued a “buy” rating and set a $15.00 target price on shares of Denny’s in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Denny’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Denny’s Price Performance

NASDAQ:DENN traded up $0.17 during mid-day trading on Tuesday, reaching $6.51. The stock had a trading volume of 706,444 shares, compared to its average volume of 565,287. The stock has a market cap of $338.64 million, a P/E ratio of 15.14, a PEG ratio of 1.23 and a beta of 2.02. Denny’s has a fifty-two week low of $5.59 and a fifty-two week high of $11.16. The business’s 50 day moving average is $6.24 and its 200 day moving average is $7.06.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The company had revenue of $115.90 million for the quarter, compared to the consensus estimate of $118.98 million. During the same quarter last year, the company posted $0.14 EPS. The business’s revenue was down .9% compared to the same quarter last year. Equities analysts expect that Denny’s will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of 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 valued at $382,000 after purchasing an additional 7,309 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Denny’s by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock valued at $2,396,000 after buying an additional 44,414 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Denny’s by 87.2% during 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 during the period. First Eagle Investment Management LLC boosted its holdings in Denny’s by 15.3% in the first 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. increased its position in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after purchasing an additional 89,465 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.