Oppenheimer Cuts Denny’s (NASDAQ:DENN) Price Target to $7.00

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

Other equities analysts have also issued reports about the company. StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Wedbush reduced their target price on Denny’s from $10.00 to $8.50 and set an “outperform” rating on the stock in a report on Thursday. Benchmark reduced their price objective on Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and upped their target price for the company from $7.00 to $7.50 in a research report on Friday, October 25th. Finally, Truist Financial lowered their price objective 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.10.

Denny’s Price Performance

DENN opened at $4.86 on Thursday. Denny’s has a 12 month low of $4.82 and a 12 month high of $9.56. The stock has a market cap of $249.46 million, a P/E ratio of 14.73, a P/E/G ratio of 1.27 and a beta of 2.02. The stock’s 50 day moving average price is $6.11 and its 200 day moving average price is $6.28.

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

Institutional Investors Weigh In On Denny’s

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Denny’s by 6.9% during the third 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 last quarter. Barclays PLC lifted 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. JPMorgan Chase & Co. raised its position in shares of Denny’s by 244.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 75,797 shares of the restaurant operator’s stock valued at $489,000 after buying an additional 53,763 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Denny’s by 0.3% during the 3rd 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 in the last quarter. Finally, Access Investment Management LLC purchased a new position in Denny’s in the 3rd quarter worth $1,387,000. 85.07% of the stock is owned by institutional investors.

Denny’s Company Profile

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.