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

Denny’s (NASDAQ:DENN) had its target price decreased by Citigroup from $8.00 to $7.00 in a report released on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the restaurant operator’s stock.

Several other analysts also recently commented on DENN. Wedbush reduced their target price on shares of Denny’s from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Truist Financial dropped their price target on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Denny’s in a report on Wednesday, July 31st. Finally, Oppenheimer decreased their price target on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Denny’s Stock Performance

DENN opened at $6.69 on Tuesday. The firm’s fifty day moving average is $6.28 and its two-hundred day moving average is $7.04. The firm has a market cap of $348.01 million, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.29 and a beta of 2.02. Denny’s has a twelve month low of $5.59 and a twelve month high of $11.16.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $118.98 million. Denny’s had a net margin of 4.19% and a negative return on equity of 57.37%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Equities analysts forecast that Denny’s will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of hedge funds have recently added to or reduced their stakes in DENN. Millennium Management LLC grew its position in Denny’s by 1,487.7% in the 2nd quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock worth $3,774,000 after purchasing an additional 498,051 shares in the last quarter. First Eagle Investment Management LLC boosted its position in 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 worth $8,938,000 after purchasing an additional 155,100 shares during the period. Skylands Capital LLC grew its stake in Denny’s by 143.7% in the 2nd quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock valued at $1,839,000 after buying an additional 152,700 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Denny’s by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after purchasing an additional 89,465 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Denny’s by 63.8% in the 2nd quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after purchasing an additional 84,371 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.