Citigroup Lowers Denny’s (NASDAQ:DENN) Price Target to $7.00

Denny’s (NASDAQ:DENN) had its target price lowered by research analysts at Citigroup from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target points to a potential upside of 44.03% from the stock’s current price.

DENN has been the topic of several other reports. Oppenheimer decreased their price objective on Denny’s from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday. Wedbush lowered their price objective on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Benchmark lowered their price target on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Truist Financial reduced their price objective 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Denny’s Trading Down 9.5 %

Shares of DENN opened at $4.86 on Thursday. The business’s 50 day moving average is $6.11 and its 200 day moving average is $6.29. The company has a market capitalization of $249.46 million, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. Denny’s has a 12-month low of $4.82 and a 12-month high of $9.56.

Denny’s (NASDAQ:DENN) last issued its earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. Equities research analysts predict that Denny’s will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DENN. Quarry LP boosted its holdings in Denny’s by 178.4% during the 4th quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 6,163 shares during the period. Marshall Wace LLP bought a new position in shares of Denny’s in the fourth quarter worth about $61,000. RPO LLC purchased a new position in Denny’s in the 4th quarter worth about $63,000. Sanctuary Advisors LLC bought a new stake in Denny’s during the 2nd quarter valued at about $77,000. Finally, FMR LLC boosted its position in Denny’s by 95.2% in 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 during the period. 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.