Denny’s (NASDAQ:DENN) Price Target Lowered to $9.50 at Wedbush

Denny’s (NASDAQ:DENN) had its price objective decreased by Wedbush from $10.50 to $9.50 in a research report sent to investors on Friday, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Denny’s from a hold rating to a buy rating in a research note on Friday, April 19th. Truist Financial reduced their target price on shares of Denny’s from $13.00 to $12.00 and set a buy rating on the stock in a report on Wednesday, February 14th. Finally, Oppenheimer cut their price target on shares of Denny’s from $13.00 to $12.00 and set an outperform rating on the stock in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $11.75.

Denny’s Trading Down 2.2 %

Shares of NASDAQ DENN opened at $8.07 on Friday. Denny’s has a 12 month low of $8.00 and a 12 month high of $12.53. The stock has a 50 day moving average of $8.81 and a 200-day moving average of $9.51. The company has a market capitalization of $428.52 million, a P/E ratio of 23.06, a P/E/G ratio of 1.43 and a beta of 1.93.

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

Insider Buying and Selling

In other news, Director John C. Miller sold 35,359 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the transaction, the director now owns 740,626 shares in the company, valued at $6,850,790.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Denny’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Denny’s by 0.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,093,427 shares of the restaurant operator’s stock worth $88,056,000 after buying an additional 43,969 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Denny’s by 3.4% in the third quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock valued at $27,724,000 after purchasing an additional 108,758 shares in the last quarter. Earnest Partners LLC grew its holdings in Denny’s by 17.4% during the third quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after buying an additional 228,709 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Denny’s by 17.4% during the fourth quarter. First Eagle Investment Management LLC now owns 957,069 shares of the restaurant operator’s stock valued at $10,413,000 after purchasing an additional 141,584 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Denny’s by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 792,732 shares of the restaurant operator’s stock worth $8,625,000 after purchasing an additional 20,181 shares during the last quarter. 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.