Denny’s (NASDAQ:DENN) Price Target Cut to $7.00 by Analysts at Citigroup

Denny’s (NASDAQ:DENN) had its price target cut by Citigroup from $8.00 to $7.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also recently commented on DENN. Oppenheimer cut their price target on shares of Denny’s from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday. Benchmark reduced their price target on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wedbush decreased their price target on Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial dropped their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, StockNews.com cut shares of Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Denny’s Stock Performance

Shares of Denny’s stock opened at $5.37 on Thursday. The firm has a market cap of $275.64 million, a PE ratio of 16.27, a P/E/G ratio of 1.27 and a beta of 2.02. The business’s 50 day simple moving average is $6.14 and its 200 day simple moving average is $6.31. Denny’s has a 52-week low of $4.91 and a 52-week high of $9.56.

Denny’s (NASDAQ:DENN) last issued 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 48.64% and a net margin of 3.90%. As a group, equities research analysts predict that Denny’s will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DENN. The Manufacturers Life Insurance Company lifted its holdings in Denny’s by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock valued at $150,000 after purchasing an additional 1,694 shares during the last quarter. Creative Planning lifted its stake in shares of Denny’s by 6.4% during the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock worth $243,000 after buying an additional 2,273 shares during the last quarter. Access Investment Management LLC boosted its holdings in shares of Denny’s by 1.5% during the 4th quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator’s stock worth $1,320,000 after buying an additional 3,135 shares during the period. State Street Corp boosted its holdings in shares of Denny’s by 0.3% during the 3rd quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock worth $7,585,000 after buying an additional 3,142 shares during the period. Finally, Geode Capital Management LLC grew its stake in Denny’s by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock valued at $7,618,000 after buying an additional 3,902 shares during the last quarter. 85.07% of the stock is currently 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.