Oppenheimer Trims Denny's (NASDAQ:DENN) Target Price to $7.00

Denny's (NASDAQ:DENN - Get Free Report) had its price objective cut by stock analysts at Oppenheimer from $10.00 to $7.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Oppenheimer's price target would suggest a potential upside of 27.27% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Citigroup cut their price target on shares of Denny's from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Benchmark restated a "buy" rating and issued a $15.00 price target on shares of Denny's in a research report on Wednesday, July 31st. Wedbush decreased their price target on shares of Denny's from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Truist Financial decreased their target price on shares of Denny's from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.00.

Denny's Trading Up 0.5 %

Denny's stock traded up $0.03 during midday trading on Wednesday, reaching $5.50. 1,690,296 shares of the stock traded hands, compared to its average volume of 579,297. The firm has a fifty day moving average price of $6.31 and a two-hundred day moving average price of $6.96. The firm has a market cap of $286.10 million, a price-to-earnings ratio of 12.79, a PEG ratio of 1.35 and a beta of 2.02. Denny's has a fifty-two week low of $5.37 and a fifty-two week high of $11.16.

Denny's (NASDAQ:DENN - Get Free Report) last released its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny's had a net margin of 4.19% and a negative return on equity of 57.37%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. Analysts anticipate that Denny's will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Denny's

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Denny's by 2.8% during the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator's stock valued at $29,885,000 after purchasing an additional 89,465 shares during the period. First Eagle Investment Management LLC boosted its holdings in Denny's by 15.3% during the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator's stock worth $9,889,000 after purchasing an additional 146,658 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Denny's by 6.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator's stock valued at $55,693,000 after acquiring an additional 558,964 shares during the last quarter. Boston Partners acquired a new stake in shares of Denny's during the 1st quarter worth about $193,000. Finally, AQR Capital Management LLC lifted its stake in shares of Denny's by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator's stock worth $1,539,000 after buying an additional 84,371 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

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.