Denny’s (NASDAQ:DENN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Denny’s (NASDAQ:DENN) from a hold rating to a buy rating in a report issued on Wednesday.

Several other brokerages have also weighed in on DENN. Oppenheimer decreased their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Wedbush reduced their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a report on Wednesday, July 31st. Citigroup reduced their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial dropped their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.10.

Denny’s Trading Up 4.8 %

NASDAQ DENN opened at $6.56 on Wednesday. The stock has a market cap of $341.24 million, a P/E ratio of 15.26, a PEG ratio of 1.11 and a beta of 2.02. The company’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.92. Denny’s has a 52 week low of $5.37 and a 52 week high of $11.16.

Denny’s (NASDAQ:DENN) last released its quarterly 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). Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. During the same quarter last year, the firm posted $0.17 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, research analysts expect that Denny’s will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in Denny’s by 6.9% during 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 acquiring an additional 558,964 shares during the period. 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 valued at $3,774,000 after buying an additional 498,051 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Denny’s by 14.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after buying an additional 155,100 shares during the period. Skylands Capital LLC raised its position in shares of Denny’s by 143.7% during the 2nd quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock worth $1,839,000 after buying an additional 152,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Denny’s by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after acquiring an additional 89,465 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Denny’s Company Profile

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.