Piper Sandler Reiterates "$4.00" Price Target for Denny's (NASDAQ:DENN)

Key Points

• Piper Sandler has reduced its price target for Denny's from $6.00 to $4.00, maintaining a "neutral" rating on the stock, suggesting a potential upside of 9.89% from the stock's previous close.
• Other analysts have also cut their price targets, with Citigroup lowering it to $6.25 and Oppenheimer to $6.00, while the average target price across brokerages stands at $7.13.
• Denny's reported a quarterly earnings miss at $0.09 per share, below the expected $0.10, alongside revenue of $117.66 million, reflecting a 1.0% year-over-year increase.

Piper Sandler set a $4.00 target price on Denny's (NASDAQ:DENN - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the restaurant operator's stock.

A number of other equities analysts have also issued reports on the stock. Oppenheimer dropped their target price on shares of Denny's from $7.00 to $6.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Citigroup dropped their target price on shares of Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Denny's currently has a consensus rating of "Moderate Buy" and an average price target of $6.46.

Denny's Stock Up 1.4%

Shares of NASDAQ:DENN traded up $0.05 during trading on Tuesday, reaching $3.63. The stock had a trading volume of 1,022,920 shares, compared to its average volume of 593,467. Denny's has a 52 week low of $2.85 and a 52 week high of $7.73. The firm has a market capitalization of $186.95 million, a price-to-earnings ratio of 11.71 and a beta of 1.70. The stock has a fifty day simple moving average of $4.08 and a two-hundred day simple moving average of $4.29.

Denny's (NASDAQ:DENN - Get Free Report) last released its quarterly 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). Denny's had a net margin of 3.53% and a negative return on equity of 59.51%. The firm had revenue of $117.66 million during the quarter, compared to the consensus estimate of $118.14 million. During the same period in the prior year, the business earned $0.13 EPS. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts forecast that Denny's will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Denny's

Several institutional investors and hedge funds have recently bought and sold shares of DENN. JPMorgan Chase & Co. boosted its stake in shares of Denny's by 122.7% in the 4th quarter. JPMorgan Chase & Co. now owns 168,779 shares of the restaurant operator's stock valued at $1,021,000 after purchasing an additional 92,982 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $9,432,000 after purchasing an additional 267,694 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Denny's by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,187,850 shares of the restaurant operator's stock valued at $7,188,000 after purchasing an additional 6,971 shares in the last quarter. Trexquant Investment LP boosted its stake in shares of Denny's by 50.5% in the 4th quarter. Trexquant Investment LP now owns 75,079 shares of the restaurant operator's stock valued at $454,000 after purchasing an additional 25,200 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Denny's in the 4th quarter valued at $533,000. 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.