Denny's (NASDAQ:DENN) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Denny's stock price recently surpassed its 200-day moving average, reaching a high of $5.69 before closing at $5.52.
• The stock now has a consensus rating of "Moderate Buy" from analysts, with a target price of $6.46 following recent price objective updates.
• Denny's reported earnings of $0.09 per share for the last quarter, missing the consensus estimate, but had a revenue increase of 1.0% year-over-year.

Denny's Corporation (NASDAQ:DENN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.02 and traded as high as $5.69. Denny's shares last traded at $5.52, with a volume of 1,415,533 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Benchmark dropped their price target on Denny's from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Piper Sandler set a $4.00 price target on Denny's and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Denny's presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.46.

Denny's Trading Down 3.5%

The business has a 50 day moving average of $4.32 and a 200-day moving average of $4.05. The stock has a market cap of $258.53 million, a PE ratio of 16.19 and a beta of 1.63.

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

Institutional Trading of Denny's

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in Denny's by 217.7% during the 1st quarter. CWM LLC now owns 6,725 shares of the restaurant operator's stock worth $25,000 after acquiring an additional 4,608 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Denny's in the 1st quarter valued at approximately $40,000. Cerity Partners LLC acquired a new stake in shares of Denny's in the 1st quarter valued at approximately $41,000. Bank of Montreal Can acquired a new stake in shares of Denny's in the 2nd quarter valued at approximately $48,000. Finally, Gilbert & Cook Inc. acquired a new stake in shares of Denny's in the 1st quarter valued at approximately $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.