Denny’s Co. (NASDAQ:DENN) Receives $11.92 Consensus PT from Brokerages

Shares of Denny’s Co. (NASDAQ:DENN) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $11.92.

A number of brokerages recently issued reports on DENN. Oppenheimer decreased their price target on Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Wedbush reduced their price target on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Truist Financial lowered their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th.

Insiders Place Their Bets

In other news, Director John C. Miller sold 35,359 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the transaction, the director now directly owns 740,626 shares of the company’s stock, valued at $6,850,790.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC acquired a new position in shares of Denny’s in the 4th quarter valued at about $12,380,000. Bank of America Corp DE lifted its holdings in Denny’s by 152.0% in the fourth quarter. Bank of America Corp DE now owns 2,166,947 shares of the restaurant operator’s stock valued at $19,958,000 after acquiring an additional 1,306,913 shares during the period. Millennium Management LLC boosted its position in Denny’s by 57.0% in the 4th quarter. Millennium Management LLC now owns 1,407,016 shares of the restaurant operator’s stock worth $12,959,000 after purchasing an additional 510,696 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Denny’s during the 1st quarter worth approximately $5,321,000. Finally, Two Sigma Investments LP purchased a new position in shares of Denny’s during the 1st quarter valued at approximately $4,303,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Denny’s Stock Up 4.9 %

Shares of NASDAQ:DENN opened at $9.06 on Friday. The firm has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $9.54. Denny’s has a 52 week low of $8.11 and a 52 week high of $12.53. The stock has a market capitalization of $481.09 million, a P/E ratio of 25.89, a PEG ratio of 1.48 and a beta of 1.94.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The company had revenue of $115.40 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, analysts expect that Denny’s will post 0.64 earnings per share for the current year.

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.