Denny’s Co. (NASDAQ:DENN) Receives Average Rating of “Moderate Buy” from Brokerages

Denny’s Co. (NASDAQ:DENN) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.70.

DENN has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a research note on Wednesday, December 11th. Wedbush dropped 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 report on Wednesday, October 23rd. Citigroup raised 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 research report on Friday, October 25th. Finally, Oppenheimer decreased their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd.

Hedge Funds Weigh In On Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in Denny’s in the second quarter worth $25,000. Quarry LP lifted its position in shares of Denny’s by 161.5% during the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Denny’s during the second quarter worth $31,000. Sanctuary Advisors LLC bought a new position in shares of Denny’s in the second quarter worth $77,000. Finally, FMR LLC grew its position in shares of Denny’s by 95.2% in the third quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock valued at $79,000 after purchasing an additional 5,970 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Denny’s Trading Up 0.9 %

NASDAQ DENN opened at $5.87 on Monday. The stock has a 50 day moving average of $6.43 and a 200-day moving average of $6.52. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16. The company has a market cap of $301.30 million, a PE ratio of 17.79, a PEG ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, sell-side analysts predict that Denny’s will post 0.52 EPS for the current fiscal year.

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.