Brokerages Set Denny’s Corp (DENN) Price Target at $18.33

Denny’s Corp (NASDAQ:DENN) has been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.33.

Several research firms have recently commented on DENN. Zacks Investment Research upgraded shares of Denny’s from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. BidaskClub upgraded shares of Denny’s from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 19th. Finally, Maxim Group began coverage on shares of Denny’s in a report on Tuesday, December 11th. They set a “buy” rating and a $21.00 price target on the stock.

NASDAQ DENN opened at $18.69 on Friday. Denny’s has a twelve month low of $13.32 and a twelve month high of $18.31. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 32.22 and a beta of 0.13.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Denny’s had a negative return on equity of 40.31% and a net margin of 7.48%. The firm had revenue of $158.00 million for the quarter, compared to analysts’ expectations of $159.28 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts anticipate that Denny’s will post 0.68 earnings per share for the current year.

In related news, EVP F Mark Wolfinger sold 7,500 shares of Denny’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $16.67, for a total value of $125,025.00. Following the completion of the sale, the executive vice president now owns 723,394 shares of the company’s stock, valued at approximately $12,058,977.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy E. Flemming sold 43,600 shares of Denny’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $17.24, for a total transaction of $751,664.00. Following the completion of the sale, the vice president now directly owns 161,791 shares of the company’s stock, valued at approximately $2,789,276.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,100 shares of company stock worth $1,347,299. 5.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in DENN. BlackRock Inc. lifted its position in Denny’s by 4.6% during the 2nd quarter. BlackRock Inc. now owns 4,575,232 shares of the restaurant operator’s stock worth $72,883,000 after acquiring an additional 201,003 shares during the last quarter. Wells Fargo & Company MN lifted its position in Denny’s by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 4,395,364 shares of the restaurant operator’s stock worth $64,699,000 after acquiring an additional 275,159 shares during the last quarter. Renaissance Technologies LLC lifted its position in Denny’s by 0.8% during the 3rd quarter. Renaissance Technologies LLC now owns 3,829,992 shares of the restaurant operator’s stock worth $56,377,000 after acquiring an additional 31,492 shares during the last quarter. Vanguard Group Inc lifted its position in Denny’s by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 3,006,666 shares of the restaurant operator’s stock worth $44,259,000 after acquiring an additional 47,047 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Denny’s by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,006,666 shares of the restaurant operator’s stock worth $44,259,000 after acquiring an additional 47,047 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Denny’s Company Profile

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of September 26, 2018, it had 1,715 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.

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