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

by · The Markets Daily

Denny’s (NASDAQ:DENN – Get Free Report) had its price target lowered by analysts at Oppenheimer from $10.00 to $7.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target suggests a potential upside of 27.97% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Truist Financial decreased their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Citigroup reduced their target price on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Wedbush dropped 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 note on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

View Our Latest Report on DENN

Denny’s Stock Performance

Shares of DENN stock opened at $5.47 on Wednesday. The firm has a market cap of $284.54 million, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.35 and a beta of 2.02. Denny’s has a 52 week low of $5.37 and a 52 week high of $11.16. The firm’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $6.96.

Denny’s (NASDAQ:DENN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The company had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that Denny’s will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Denny’s

A number of large investors have recently modified their holdings of DENN. BNP Paribas Financial Markets boosted its holdings in Denny’s by 20.7% in the 1st quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock valued at $382,000 after purchasing an additional 7,309 shares during the period. Russell Investments Group Ltd. boosted its stake in Denny’s by 19.9% during the first quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock valued at $2,396,000 after buying an additional 44,414 shares during the period. State Board of Administration of Florida Retirement System grew its position in Denny’s by 87.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock worth $262,000 after buying an additional 13,600 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Denny’s by 15.3% in the 1st quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock worth $9,889,000 after acquiring an additional 146,658 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings 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 valued at $29,885,000 after acquiring an additional 89,465 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Denny’s Company Profile

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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.

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