Denny’s (NASDAQ:DENN) Upgraded at StockNews.com

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

DENN has been the topic of a number of other research reports. Oppenheimer reduced their target price on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wedbush cut their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced 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. Benchmark decreased their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.00 to $7.50 in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Denny’s Price Performance

Shares of NASDAQ:DENN opened at $5.87 on Tuesday. The company’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $6.49. Denny’s has a one year low of $5.37 and a one year high of $11.16. The stock has a market capitalization of $301.30 million, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.33 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last announced its 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 for the quarter, compared to the consensus estimate of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, analysts anticipate that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

Several hedge funds and other institutional investors have recently modified their holdings of DENN. Allspring Global Investments Holdings LLC boosted its position in shares of Denny’s by 6.9% in 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 in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in 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 purchasing an additional 583,660 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Denny’s by 14.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after buying an additional 155,100 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 3,902 shares during the last quarter. Finally, State Street Corp increased its holdings in 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. Hedge funds and other institutional investors 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.