StockNews.com Downgrades Denny’s (NASDAQ:DENN) to Hold

Denny’s (NASDAQ:DENN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other analysts have also recently weighed in on DENN. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.00 to $7.50 in a report on Friday, October 25th. Truist Financial reduced their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Benchmark lowered their target price 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. Wedbush cut their price target on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Oppenheimer upped their price objective on Denny’s from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Denny’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.90.

Denny’s Stock Performance

Shares of NASDAQ:DENN traded up $0.01 during trading on Monday, hitting $5.62. The company’s stock had a trading volume of 823,131 shares, compared to its average volume of 761,733. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The business has a 50 day moving average price of $6.29 and a two-hundred day moving average price of $6.42. The company has a market capitalization of $288.47 million, a PE ratio of 17.03, a P/E/G ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last released 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 analyst estimates of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts expect that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

Large investors have recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of Denny’s in the 2nd quarter valued at about $25,000. Quarry LP lifted its stake in Denny’s by 161.5% in the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 2,617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Denny’s in the second quarter valued at approximately $31,000. Sanctuary Advisors LLC purchased a new position in shares of Denny’s during the second quarter worth approximately $77,000. Finally, FMR LLC increased its holdings in shares of 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 acquiring an additional 5,970 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.