Oppenheimer Lowers Denny’s (NASDAQ:DENN) Price Target to $7.00

Denny’s (NASDAQ:DENN) had its target price dropped by Oppenheimer from $8.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target points to a potential upside of 44.03% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on DENN. Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.00 to $7.50 in a report on Friday, October 25th. Truist Financial decreased their price target on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Wedbush cut their price objective on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Thursday. Benchmark cut their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

Denny’s Trading Down 9.5 %

Shares of NASDAQ:DENN opened at $4.86 on Thursday. Denny’s has a 1 year low of $4.82 and a 1 year high of $9.56. The firm has a fifty day moving average price of $6.11 and a 200 day moving average price of $6.29. The stock has a market capitalization of $249.46 million, a PE ratio of 14.73, a P/E/G ratio of 1.27 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. On average, sell-side analysts forecast that Denny’s will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DENN. Quarry LP raised its position in Denny’s by 178.4% in the fourth quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock worth $58,000 after purchasing an additional 6,163 shares in the last quarter. Marshall Wace LLP acquired a new position in Denny’s in the fourth quarter worth about $61,000. RPO LLC acquired a new position in Denny’s in the fourth quarter worth about $63,000. Sanctuary Advisors LLC acquired a new position in Denny’s in the second quarter worth about $77,000. Finally, FMR LLC raised its position in Denny’s by 95.2% in the third quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock worth $79,000 after purchasing an additional 5,970 shares in the last quarter. Institutional investors and hedge funds 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.