Denny’s (NASDAQ:DENN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Denny’s (NASDAQ:DENN) had its price target upped by Oppenheimer from $7.00 to $8.00 in a report issued on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

Several other equities analysts have also commented on DENN. Wedbush cut their price target on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial cut their target price on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Benchmark cut their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Citigroup upgraded Denny’s from a “neutral” rating to a “buy” rating and upped their target price for the stock from $7.00 to $7.50 in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.90.

Denny’s Price Performance

Shares of DENN stock opened at $5.81 on Tuesday. The company has a market capitalization of $298.22 million, a P/E ratio of 17.61, a P/E/G ratio of 1.33 and a beta of 2.01. The company’s 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $6.45. Denny’s has a one year low of $5.37 and a one year high of $11.16.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. On average, research analysts expect that Denny’s will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Denny’s in the second quarter valued at approximately $25,000. Quarry LP lifted its holdings in shares of Denny’s by 161.5% during the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Denny’s in the 2nd quarter worth $31,000. Sanctuary Advisors LLC purchased a new position in Denny’s during the 2nd quarter worth $77,000. Finally, FMR LLC increased its position in Denny’s by 95.2% during the 3rd quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock valued at $79,000 after buying an additional 5,970 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.