StockNews.com Upgrades Denny’s (NASDAQ:DENN) to “Buy”

Denny’s (NASDAQ:DENN) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also issued reports about the company. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and raised their price objective for the company from $7.00 to $7.50 in a research report on Friday, October 25th. Truist Financial dropped their target price on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wedbush reduced their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Benchmark lowered their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Oppenheimer dropped their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Stock Performance

Shares of NASDAQ DENN opened at $5.87 on Tuesday. The company’s fifty day moving average is $6.39 and its two-hundred day moving average is $6.49. The firm has a market capitalization of $301.30 million, a P/E ratio of 17.79, a PEG ratio of 1.33 and a beta of 2.02. Denny’s has a one year low of $5.37 and a one year high of $11.16.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The firm had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. During the same period in the previous 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. On average, sell-side analysts forecast that Denny’s will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denny’s

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Denny’s during the 2nd quarter worth approximately $25,000. Rice Hall James & Associates LLC raised its holdings in shares of Denny’s by 3.8% in the second quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock valued at $540,000 after buying an additional 2,775 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Denny’s by 14.1% during the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after purchasing an additional 155,100 shares in the last quarter. XTX Topco Ltd bought a new position in Denny’s in the 2nd quarter valued at $90,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Denny’s in the second quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors.

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.