StockNews.com Upgrades Denny’s (NASDAQ:DENN) to “Buy”

Denny’s (NASDAQ:DENN) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also issued reports on DENN. Citigroup decreased their target price on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Truist Financial lowered their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Oppenheimer reduced their target price on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a report on Wednesday, July 31st. Finally, Wedbush cut their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Denny’s Price Performance

Denny’s stock traded up $0.03 during mid-day trading on Wednesday, hitting $5.50. 1,690,296 shares of the company were exchanged, compared to its average volume of 579,297. Denny’s has a 12-month low of $5.37 and a 12-month high of $11.16. The company has a market capitalization of $286.10 million, a P/E ratio of 12.79, a PEG ratio of 1.35 and a beta of 2.02. The business’s 50 day simple moving average is $6.31 and its two-hundred day simple moving average is $6.96.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The company had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $115.46 million. During the same quarter in the prior year, the business posted $0.17 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts predict that Denny’s will post 0.55 earnings per share for the current year.

Institutional Trading of Denny’s

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC purchased a new stake in Denny’s during the third quarter worth approximately $428,000. Assenagon Asset Management S.A. purchased a new stake in Denny’s during the 3rd quarter worth $217,000. Allspring Global Investments Holdings LLC boosted its position in Denny’s by 6.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock worth $55,693,000 after purchasing an additional 558,964 shares during the period. Creative Planning increased its holdings in Denny’s by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after purchasing an additional 2,273 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Denny’s in the third quarter valued at about $120,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.