Denny's (NASDAQ:DENN) Given New $6.00 Price Target at Oppenheimer

Denny's (NASDAQ:DENN - Get Free Report) had its price objective decreased by equities researchers at Oppenheimer from $7.00 to $6.00 in a report released on Tuesday, MarketBeat.com reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Oppenheimer's price objective indicates a potential upside of 34.23% from the stock's current price.

Several other analysts also recently commented on DENN. StockNews.com downgraded Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Citigroup reduced their price objective on Denny's from $7.00 to $6.25 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered their target price on Denny's from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Finally, Wedbush reduced their price target on shares of Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.46.

Denny's Stock Performance

Shares of DENN stock traded up $0.11 during mid-day trading on Tuesday, hitting $4.47. The company's stock had a trading volume of 1,280,475 shares, compared to its average volume of 918,360. Denny's has a 52 week low of $2.85 and a 52 week high of $8.30. The company's fifty day simple moving average is $3.68 and its 200-day simple moving average is $5.27. The company has a market cap of $229.09 million, a PE ratio of 10.90 and a beta of 1.63.

Denny's (NASDAQ:DENN - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The restaurant operator reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $111.64 million during the quarter, compared to the consensus estimate of $110.11 million. Denny's had a net margin of 4.77% and a negative return on equity of 50.01%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. On average, equities analysts anticipate that Denny's will post 0.5 earnings per share for the current year.

Insider Activity at Denny's

In other news, EVP Stephen C. Dunn acquired 9,815 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of $5.08 per share, with a total value of $49,860.20. Following the acquisition, the executive vice president now directly owns 113,666 shares of the company's stock, valued at $577,423.28. The trade was a 9.45 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kelli Valade bought 9,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $5.13 per share, with a total value of $49,761.00. Following the acquisition, the chief executive officer now owns 192,806 shares of the company's stock, valued at $989,094.78. The trade was a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,465 shares of company stock valued at $104,457 over the last 90 days. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Denny's

Hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners lifted its holdings in Denny's by 2,820.6% during the fourth quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator's stock worth $10,081,000 after acquiring an additional 1,608,854 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Denny's by 19.7% during the 4th quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator's stock worth $10,077,000 after purchasing an additional 274,459 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Denny's by 20.7% in the 4th quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator's stock worth $9,432,000 after buying an additional 267,694 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Denny's by 24.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator's stock worth $7,656,000 after buying an additional 251,874 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Denny's by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,187,850 shares of the restaurant operator's stock worth $7,188,000 after acquiring an additional 6,971 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

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.