Denny’s (NASDAQ:DENN) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts also recently issued reports 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 report on Wednesday, October 23rd. Truist Financial cut their target price on Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.00 to $7.50 in a research report on Friday, October 25th. Oppenheimer cut their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Benchmark decreased their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Price Performance

NASDAQ:DENN opened at $5.77 on Tuesday. Denny’s has a 1-year low of $5.37 and a 1-year high of $11.16. The company has a 50-day moving average of $6.43 and a 200 day moving average of $6.51. The firm has a market cap of $296.17 million, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share 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 analysts’ expectations of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. Denny’s’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. Sell-side analysts anticipate that Denny’s will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

Several hedge funds have recently modified their holdings of DENN. Barclays PLC boosted its stake in Denny’s by 342.5% in the 3rd quarter. Barclays PLC now owns 82,257 shares of the restaurant operator’s stock worth $531,000 after purchasing an additional 63,668 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Denny’s by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after buying an additional 3,902 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Denny’s by 588.2% during the third quarter. XTX Topco Ltd now owns 87,470 shares of the restaurant operator’s stock worth $564,000 after buying an additional 74,760 shares during the period. State Street Corp grew its holdings in shares of Denny’s by 0.3% during the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock valued at $7,585,000 after buying an additional 3,142 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Denny’s by 73.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock valued at $8,908,000 after acquiring an additional 583,660 shares during the period. Institutional investors and hedge funds 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.