Denny's (NASDAQ:DENN) Price Target Lowered to $6.00 at Benchmark

Key Points

• Benchmark has lowered Denny's price target from $8.00 to $6.00, indicating a potential upside of 68.54% from the company's previous close, while maintaining a "buy" rating.
• Citigroup and Oppenheimer also revised their price targets, setting them at $6.25 and $6.00 respectively, with varying ratings from "buy" to "outperform."
• Denny's reported a missing earnings estimate with an EPS of $0.09 for the last quarter, below the expected $0.10, and revenue of $117.66 million, compared to projections of $118.14 million.

Denny's (NASDAQ:DENN - Get Free Report) had its price target cut by stock analysts at Benchmark from $8.00 to $6.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the restaurant operator's stock. Benchmark's target price indicates a potential upside of 68.54% from the company's previous close.

A number of other analysts have also recently commented on the company. Citigroup dropped their price target on Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler set a $4.00 target price on Denny's and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Oppenheimer dropped their price target on Denny's from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Denny's currently has an average rating of "Moderate Buy" and a consensus price target of $6.46.

Denny's Trading Up 0.6%

Shares of Denny's stock opened at $3.56 on Thursday. The company's fifty day simple moving average is $4.09 and its two-hundred day simple moving average is $4.32. Denny's has a 12-month low of $2.85 and a 12-month high of $7.73. The company has a market cap of $182.45 million, a P/E ratio of 11.48 and a beta of 1.70.

Denny's (NASDAQ:DENN - Get Free Report) last released its earnings results on Monday, August 4th. The restaurant operator reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The firm had revenue of $117.66 million during the quarter, compared to analysts' expectations of $118.14 million. Denny's had a net margin of 3.53% and a negative return on equity of 59.51%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. Analysts predict that Denny's will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Denny's

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Denny's during the 2nd quarter valued at about $81,000. First Eagle Investment Management LLC grew its stake in shares of Denny's by 6.0% during the second quarter. First Eagle Investment Management LLC now owns 1,949,248 shares of the restaurant operator's stock valued at $7,992,000 after buying an additional 110,722 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Denny's by 21.9% in the second quarter. Savant Capital LLC now owns 58,041 shares of the restaurant operator's stock worth $238,000 after buying an additional 10,410 shares during the period. Bank of Montreal Can purchased a new stake in shares of Denny's in the second quarter worth approximately $48,000. Finally, CWM LLC lifted its stake in shares of Denny's by 207.5% during the 2nd quarter. CWM LLC now owns 20,679 shares of the restaurant operator's stock worth $85,000 after acquiring an additional 13,954 shares during the last quarter. 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.

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