Denny’s (NASDAQ:DENN) Price Target Cut to $10.00 by Analysts at Oppenheimer

Denny’s (NASDAQ:DENN) had its target price lowered by Oppenheimer from $11.00 to $10.00 in a report issued on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

A number of other analysts have also recently weighed in on DENN. Wedbush reduced their target price on shares of Denny’s from $8.50 to $8.00 and set a neutral rating for the company in a report on Wednesday. Benchmark restated a buy rating and issued a $15.00 target price on shares of Denny’s in a report on Wednesday, May 1st. Truist Financial cut their target price on Denny’s from $11.00 to $10.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Finally, StockNews.com lowered Denny’s from a buy rating to a hold rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Denny’s presently has an average rating of Moderate Buy and a consensus price target of $10.40.

Denny’s Stock Down 6.0 %

Shares of Denny’s stock opened at $6.58 on Wednesday. The business has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $8.30. Denny’s has a fifty-two week low of $6.33 and a fifty-two week high of $11.16. The firm has a market cap of $342.29 million, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.40 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Denny’s had a net margin of 4.19% and a negative return on equity of 57.37%. The business had revenue of $115.90 million during the quarter, compared to analyst estimates of $118.98 million. During the same period in the previous year, the company posted $0.14 earnings per share. Denny’s’s revenue was down .9% compared to the same quarter last year. Analysts anticipate that Denny’s will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other Denny’s news, CAO Jay C. Gilmore purchased 12,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $6.51 per share, with a total value of $78,120.00. Following the completion of the transaction, the chief accounting officer now owns 121,227 shares of the company’s stock, valued at $789,187.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Denny’s news, CAO Jay C. Gilmore bought 12,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $6.51 per share, for a total transaction of $78,120.00. Following the acquisition, the chief accounting officer now directly owns 121,227 shares of the company’s stock, valued at $789,187.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Verostek purchased 10,000 shares of Denny’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $6.53 per share, with a total value of $65,300.00. Following the completion of the transaction, the chief financial officer now directly owns 24,000 shares of the company’s stock, valued at $156,720. The disclosure for this purchase can be found here. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

Institutional investors and hedge funds have recently modified their holdings of the stock. Skylands Capital LLC boosted its position in Denny’s by 143.7% during the second quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock valued at $1,839,000 after purchasing an additional 152,700 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of 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 buying an additional 146,658 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Denny’s by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock valued at $27,724,000 after buying an additional 108,758 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Denny’s by 75.6% in the fourth quarter. Russell Investments Group Ltd. now owns 222,943 shares of the restaurant operator’s stock worth $2,426,000 after buying an additional 96,002 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its position in Denny’s by 9.9% during the second quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock valued at $6,364,000 after acquiring an additional 80,587 shares in the last quarter. 85.07% of the stock is currently 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.