Denny’s (NASDAQ:DENN) Price Target Lowered to $6.00 at Oppenheimer

Denny’s (NASDAQ:DENN) had its price target decreased by Oppenheimer from $7.00 to $6.00 in a research report sent to investors on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the restaurant operator’s stock.

A number of other brokerages have also recently commented on DENN. Wedbush reduced their target price on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citigroup decreased their target price on Denny’s from $7.00 to $6.25 and set a “buy” rating on the stock in a report on Thursday, April 24th. StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler lowered their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.46.

Denny’s Trading Up 3.2 %

Shares of DENN opened at $3.91 on Tuesday. The firm has a market cap of $201.27 million, a PE ratio of 9.54 and a beta of 1.63. Denny’s has a 1-year low of $2.85 and a 1-year high of $8.30. The firm has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $5.30.

Denny’s (NASDAQ:DENN) last announced its earnings results on Monday, May 5th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $111.64 million for the quarter, compared to analysts’ expectations of $110.11 million. Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. As a group, research analysts forecast that Denny’s will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kelli Valade acquired 9,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $5.13 per share, for a total transaction of $49,761.00. Following the completion of the transaction, the chief executive officer now directly owns 192,806 shares in the company, valued at approximately $989,094.78. This trade represents a 5.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen C. Dunn bought 9,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $5.08 per share, for a total transaction of $49,860.20. Following the completion of the transaction, the executive vice president now directly owns 113,666 shares of the company’s stock, valued at $577,423.28. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 20,465 shares of company stock worth $104,457 in the last three months. 4.20% of the stock is owned by company insiders.

Institutional Trading of Denny’s

A number of large investors have recently added to or reduced their stakes in DENN. Barclays PLC grew its holdings in shares of Denny’s by 342.5% in the third quarter. Barclays PLC now owns 82,257 shares of the restaurant operator’s stock valued at $531,000 after purchasing an additional 63,668 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Denny’s by 244.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 75,797 shares of the restaurant operator’s stock worth $489,000 after buying an additional 53,763 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Denny’s by 25.3% in the 4th quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator’s stock worth $141,000 after buying an additional 4,704 shares during the last quarter. Access Investment Management LLC raised its position in shares of Denny’s by 1.5% during the 4th quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator’s stock valued at $1,320,000 after buying an additional 3,135 shares in the last quarter. Finally, Skylands Capital LLC lifted its holdings in shares of Denny’s by 28.6% in the 4th quarter. Skylands Capital LLC now owns 570,000 shares of the restaurant operator’s stock valued at $3,448,000 after acquiring an additional 126,850 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

About Denny’s

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.