Denny’s (NASDAQ:DENN) Price Target Raised to $8.00

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

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

Denny’s Stock Performance

DENN stock opened at $5.81 on Tuesday. The company’s fifty day moving average price is $6.33 and its 200-day moving average price is $6.45. Denny’s has a one year low of $5.37 and a one year high of $11.16. The company has a market capitalization of $298.22 million, a PE ratio of 17.61, 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 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company 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%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, research analysts predict that Denny’s will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Denny’s

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of 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. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Denny’s by 73.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock valued at $8,908,000 after buying an additional 583,660 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Denny’s by 14.1% during the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after buying an additional 155,100 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Denny’s by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock valued at $7,618,000 after buying an additional 3,902 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Denny’s by 0.3% in the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock worth $7,585,000 after buying 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 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.