Piper Sandler Cuts Denny’s (NASDAQ:DENN) Price Target to $6.00

Denny’s (NASDAQ:DENN) had its price target cut by Piper Sandler from $7.00 to $6.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

DENN has been the subject of several other reports. Truist Financial dropped their target price on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Citigroup decreased their target price on shares of Denny’s from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Benchmark dropped their price target 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, Wedbush decreased their price objective on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Denny’s Stock Performance

DENN stock opened at $5.11 on Tuesday. Denny’s has a one year low of $4.82 and a one year high of $9.52. The company has a market capitalization of $262.29 million, a PE ratio of 12.46 and a beta of 2.02. The company’s 50 day moving average price is $6.02 and its two-hundred day moving average price is $6.23.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. On average, research analysts predict that Denny’s will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently bought and sold shares of DENN. Quarry LP lifted its position in Denny’s by 178.4% during the 4th quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 6,163 shares during the period. Marshall Wace LLP bought a new position in shares of Denny’s during the fourth quarter valued at approximately $61,000. RPO LLC purchased a new position in shares of Denny’s during the fourth quarter valued at approximately $63,000. Sanctuary Advisors LLC bought a new stake in shares of Denny’s in the 2nd quarter worth approximately $77,000. Finally, FMR LLC boosted its position in shares of Denny’s by 95.2% in the 3rd 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. 85.07% of the stock is owned by 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.