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

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

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

Denny’s Trading Down 2.2 %

Shares of DENN opened at $8.07 on Friday. The firm has a fifty day moving average price of $8.81 and a 200-day moving average price of $9.52. The firm has a market capitalization of $428.52 million, a P/E ratio of 23.06, a P/E/G ratio of 1.40 and a beta of 1.93. Denny’s has a 12-month low of $8.00 and a 12-month high of $12.53.

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

Insider Buying and Selling at Denny’s

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

Institutional Trading of Denny’s

Several hedge funds have recently modified their holdings of DENN. Quadrant Capital Group LLC raised its stake in shares of Denny’s by 126.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 2,536 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Denny’s during the third quarter worth $89,000. Quest Partners LLC acquired a new position in shares of Denny’s during the fourth quarter worth $96,000. Jump Financial LLC purchased a new stake in shares of Denny’s during the 3rd quarter valued at $122,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Denny’s by 45.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator’s stock worth $130,000 after purchasing an additional 4,843 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other 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.