Denny’s (NASDAQ:DENN) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research note released on Monday.

Other equities analysts also recently issued research reports about the stock. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Benchmark cut their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price target on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Oppenheimer raised their price objective on Denny’s from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Wedbush reduced their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.90.

Denny’s Stock Up 5.2 %

DENN stock opened at $5.90 on Monday. The stock has a market capitalization of $302.85 million, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.07 and a beta of 2.01. Denny’s has a 52-week low of $5.37 and a 52-week high of $11.16. The stock’s fifty day simple moving average is $6.26 and its 200-day simple moving average is $6.41.

Denny’s (NASDAQ:DENN) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. As a group, analysts anticipate 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 the stock. JPMorgan Chase & Co. grew its stake in shares of Denny’s by 244.0% in the third quarter. JPMorgan Chase & Co. now owns 75,797 shares of the restaurant operator’s stock valued at $489,000 after buying an additional 53,763 shares in the last quarter. Barclays PLC grew its position in Denny’s by 342.5% in the third quarter. Barclays PLC now owns 82,257 shares of the restaurant operator’s stock valued at $531,000 after acquiring an additional 63,668 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Denny’s by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock valued at $7,618,000 after purchasing an additional 3,902 shares during the period. XTX Topco Ltd raised its stake in shares of Denny’s by 588.2% during the third quarter. XTX Topco Ltd now owns 87,470 shares of the restaurant operator’s stock valued at $564,000 after purchasing an additional 74,760 shares during the period. Finally, State Street Corp lifted its position in shares of Denny’s by 0.3% during the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock worth $7,585,000 after purchasing an additional 3,142 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.