Piper Sandler Issues Pessimistic Forecast for Denny's (NASDAQ:DENN) Stock Price

Denny's (NASDAQ:DENN - Get Free Report) had its price target cut by investment analysts at Piper Sandler from $7.00 to $6.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. Piper Sandler's price target would suggest a potential upside of 12.68% from the company's previous close.

A number of other research firms also recently issued reports on DENN. Citigroup cut their price target on Denny's from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Benchmark cut their price target on Denny's from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, October 25th. StockNews.com downgraded Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Wedbush cut their price target on Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial cut their price target on Denny's from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Denny's presently has a consensus rating of "Moderate Buy" and an average price target of $7.75.

Denny's Price Performance

NASDAQ DENN traded up $0.22 during trading hours on Tuesday, hitting $5.33. The company's stock had a trading volume of 1,631,537 shares, compared to its average volume of 1,306,661. Denny's has a 12 month low of $4.82 and a 12 month high of $9.52. The company's 50 day simple moving average is $6.00 and its two-hundred day simple moving average is $6.23. The company has a market cap of $273.33 million, a P/E ratio of 12.99 and a beta of 2.02.

Denny's (NASDAQ:DENN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny's had a negative return on equity of 50.01% and a net margin of 4.77%. As a group, research analysts predict that Denny's will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Denny's by 178.4% during the 4th quarter. Quarry LP now owns 9,618 shares of the restaurant operator's stock valued at $58,000 after acquiring an additional 6,163 shares during the period. Marshall Wace LLP purchased a new position in Denny's in the 4th quarter worth approximately $61,000. RPO LLC purchased a new position in Denny's in the 4th quarter worth approximately $63,000. Sanctuary Advisors LLC purchased a new stake in shares of Denny's during the 2nd quarter worth approximately $77,000. Finally, FMR LLC raised its holdings in shares of Denny's by 95.2% during the 3rd quarter. FMR LLC now owns 12,239 shares of the restaurant operator's stock worth $79,000 after acquiring an additional 5,970 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

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.