Denny’s (NASDAQ:DENN) Downgraded by StockNews.com to Hold

Denny’s (NASDAQ:DENN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

DENN has been the subject of a number of other reports. Truist Financial lowered their price target on Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Oppenheimer lowered their target price on shares of Denny’s from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a research report on Wednesday. Finally, Wedbush lowered their price objective on shares of Denny’s from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.42.

Denny’s Price Performance

DENN traded up $0.03 during trading on Thursday, hitting $8.09. The company had a trading volume of 750,263 shares, compared to its average volume of 522,270. The company has a market cap of $420.84 million, a PE ratio of 18.81, a P/E/G ratio of 1.50 and a beta of 1.94. The business has a 50-day moving average of $8.70 and a 200-day moving average of $9.50. Denny’s has a 1-year low of $7.82 and a 1-year high of $12.53.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $109.97 million during the quarter, compared to analyst estimates of $115.17 million. Denny’s had a net margin of 5.27% and a negative return on equity of 63.27%. The company’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Research analysts forecast that Denny’s will post 0.6 earnings per share for the current year.

Insider Transactions at Denny’s

In other Denny’s news, Director John C. Miller sold 35,359 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the transaction, the director now owns 740,626 shares in the company, valued at approximately $6,850,790.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in Denny’s by 126.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 2,536 shares in the last quarter. Quest Partners LLC acquired a new stake in Denny’s in the fourth quarter worth about $96,000. Corton Capital Inc. bought a new position in Denny’s in the 3rd quarter valued at about $89,000. Trexquant Investment LP bought a new position in Denny’s in the 4th quarter valued at about $136,000. Finally, Jump Financial LLC acquired a new position in Denny’s during the 3rd quarter valued at about $122,000. 85.07% of the stock is owned by institutional investors.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.