Denny’s (NASDAQ:DENN) Upgraded by Wedbush to Outperform Rating

Wedbush upgraded shares of Denny’s (NASDAQ:DENN) from a neutral rating to an outperform rating in a report issued on Friday morning, MarketBeat Ratings reports. The firm currently has $10.00 target price on the restaurant operator’s stock, up from their prior target price of $6.00.

Several other analysts have also weighed in on DENN. Oppenheimer raised their price objective on shares of Denny’s from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Truist Financial cut their price objective 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. StockNews.com cut Denny’s from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Benchmark cut their price target on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $7.50 in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Denny’s presently has a consensus rating of “Moderate Buy” and an average target price of $8.70.

Denny’s Stock Performance

DENN opened at $7.04 on Friday. The firm has a market cap of $361.36 million, a price-to-earnings ratio of 21.33, a PEG ratio of 1.27 and a beta of 2.02. The firm’s 50-day simple moving average is $6.16 and its 200-day simple moving average is $6.34. Denny’s has a twelve month low of $5.37 and a twelve month high of $10.53.

Institutional Trading of Denny’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Denny’s by 6.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after purchasing an additional 558,964 shares during the last quarter. Barclays PLC boosted its stake 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 during the last quarter. Geode Capital Management LLC grew its holdings in Denny’s by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after acquiring an additional 3,902 shares during the period. Access Investment Management LLC bought a new stake in shares of Denny’s during the 3rd quarter valued at $1,387,000. Finally, Intech Investment Management LLC acquired a new position in shares of Denny’s in the 3rd quarter valued at $83,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.