Denny’s (NASDAQ:DENN) Stock Rating Reaffirmed by Benchmark

Benchmark restated their buy rating on shares of Denny’s (NASDAQ:DENN) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $15.00 price objective on the restaurant operator’s stock.

A number of other research analysts have also recently issued reports on DENN. Truist Financial decreased their price target on shares of Denny’s from $13.00 to $12.00 and set a buy rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded Denny’s from a hold rating to a buy rating in a research note on Friday, April 19th. Wedbush lowered their price target on Denny’s from $10.50 to $9.50 and set a neutral rating for the company in a research report on Friday, April 26th. Finally, Oppenheimer cut their price objective on Denny’s from $12.00 to $11.00 and set an outperform rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $11.42.

Denny’s Price Performance

Denny’s stock opened at $8.09 on Wednesday. The business has a fifty day moving average price of $8.72 and a 200-day moving average price of $9.50. Denny’s has a 1-year low of $7.82 and a 1-year high of $12.53. The stock has a market capitalization of $420.84 million, a price-to-earnings ratio of 18.81, a PEG ratio of 1.42 and a beta of 1.94.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Denny’s had a negative return on equity of 63.27% and a net margin of 5.27%. The business had revenue of $109.97 million for the quarter, compared to analysts’ expectations of $115.17 million. During the same quarter in the previous year, the firm posted $0.13 EPS. Denny’s’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Denny’s will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Denny’s

In other news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the transaction, the director now owns 740,626 shares of the company’s stock, valued at approximately $6,850,790.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denny’s

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in Denny’s by 126.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 2,536 shares during the period. Quest Partners LLC purchased a new stake in shares of Denny’s during the 4th quarter worth about $96,000. Corton Capital Inc. acquired a new stake in shares of Denny’s during the 3rd quarter valued at about $89,000. Trexquant Investment LP purchased a new position in shares of Denny’s in the 4th quarter valued at about $136,000. Finally, Jump Financial LLC acquired a new position in Denny’s in the 3rd quarter worth about $122,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.