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

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

DENN has been the topic of several other reports. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Wedbush lowered their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Benchmark lowered their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Oppenheimer lowered their target price on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Truist Financial lowered their price objective 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Denny’s has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Trading Up 0.5 %

DENN opened at $6.25 on Wednesday. The company has a 50 day moving average of $6.44 and a 200 day moving average of $6.57. The company has a market cap of $320.81 million, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business 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 quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. Research analysts forecast that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Denny’s by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 1,694 shares during the period. Creative Planning raised its position in Denny’s by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock worth $243,000 after purchasing an additional 2,273 shares during the period. Quarry LP raised its position in Denny’s by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 2,617 shares during the period. Rice Hall James & Associates LLC raised its position in Denny’s by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock worth $540,000 after purchasing an additional 2,775 shares during the period. Finally, State Street Corp raised its position in Denny’s by 0.3% in the 3rd quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock worth $7,585,000 after purchasing an additional 3,142 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.