Denny’s (NASDAQ:DENN) Rating Increased to Buy at StockNews.com

Denny’s (NASDAQ:DENN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other research analysts also recently weighed in on the stock. Oppenheimer reduced their price target on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Truist Financial decreased their price objective on Denny’s from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Finally, Wedbush dropped their target price on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.92.

Denny’s Trading Down 0.9 %

NASDAQ DENN opened at $8.06 on Friday. Denny’s has a twelve month low of $8.03 and a twelve month high of $12.53. The stock has a 50-day moving average of $8.99 and a 200 day moving average of $9.52. The stock has a market capitalization of $427.99 million, a price-to-earnings ratio of 23.03, a PEG ratio of 1.43 and a beta of 1.93.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $115.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business earned $0.18 EPS. Equities analysts predict that Denny’s will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Denny’s news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.25, for a total value of $327,070.75. Following the transaction, the director now directly owns 740,626 shares in the company, valued at approximately $6,850,790.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denny’s

A number of hedge funds have recently made changes to their positions in DENN. Earnest Partners LLC acquired a new stake in Denny’s during the 4th quarter worth approximately $12,380,000. Bank of America Corp DE increased its holdings in Denny’s by 152.0% during the 4th quarter. Bank of America Corp DE now owns 2,166,947 shares of the restaurant operator’s stock worth $19,958,000 after purchasing an additional 1,306,913 shares during the period. Millennium Management LLC raised its position in Denny’s by 57.0% in the 4th quarter. Millennium Management LLC now owns 1,407,016 shares of the restaurant operator’s stock valued at $12,959,000 after purchasing an additional 510,696 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Denny’s in the 1st quarter valued at about $5,321,000. Finally, Two Sigma Investments LP purchased a new position in shares of Denny’s in the 1st quarter valued at about $4,303,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.