Denny’s (NASDAQ:DENN) Upgraded to “Outperform” at Wedbush

Wedbush upgraded shares of Denny’s (NASDAQ:DENN) from a neutral rating to an outperform rating in a research report released on Friday, MarketBeat reports. Wedbush currently has $10.00 price objective on the restaurant operator’s stock, up from their previous price objective of $6.00.

Several other research analysts have also weighed in on the company. Truist Financial reduced their target price on Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Oppenheimer lifted their price target on shares of Denny’s from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Benchmark lowered their price objective 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, StockNews.com cut shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average price target of $8.70.

Denny’s Stock Performance

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

Institutional Trading of Denny’s

A number of institutional investors have recently made changes to their positions in DENN. Squarepoint Ops LLC lifted its position in Denny’s by 140.1% during the 2nd quarter. Squarepoint Ops LLC now owns 31,433 shares of the restaurant operator’s stock worth $223,000 after buying an additional 18,342 shares in the last quarter. AQR Capital Management LLC raised its holdings in Denny’s by 63.8% during the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock worth $1,539,000 after acquiring an additional 84,371 shares in the last quarter. Millennium Management LLC boosted its position in Denny’s by 1,487.7% during the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after purchasing an additional 498,051 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Denny’s by 8.7% in the second 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 in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Denny’s during the 2nd quarter worth approximately $77,000. Institutional investors own 85.07% of the company’s stock.

Denny’s Company Profile

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.