Shares of Denny’s Co. (NASDAQ:DENN) have been assigned an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.57.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Denny’s from a “sell” rating to a “hold” rating and set a $17.00 price target for the company in a research note on Tuesday, August 3rd. Wedbush decreased their price target on shares of Denny’s from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, August 25th. They noted that the move was a valuation call. Finally, Stephens decreased their price target on shares of Denny’s from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, June 9th.
Denny’s stock opened at $15.57 on Friday. The company’s 50 day moving average price is $15.57 and its two-hundred day moving average price is $16.94. Denny’s has a 52 week low of $8.53 and a 52 week high of $20.02. The stock has a market cap of $999.59 million, a P/E ratio of 32.44, a P/E/G ratio of 3.52 and a beta of 1.79.
In related news, President F Mark Wolfinger sold 9,877 shares of Denny’s stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $16.39, for a total value of $161,884.03. Following the completion of the transaction, the president now directly owns 796,771 shares in the company, valued at approximately $13,059,076.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Denny’s by 79.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,863 shares of the restaurant operator’s stock valued at $97,000 after purchasing an additional 2,594 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Denny’s during the 2nd quarter valued at $177,000. Amalgamated Bank purchased a new position in shares of Denny’s during the 2nd quarter valued at $183,000. SG Americas Securities LLC purchased a new position in shares of Denny’s during the 1st quarter valued at $205,000. Finally, LPL Financial LLC grew its position in shares of Denny’s by 14.9% during the 2nd quarter. LPL Financial LLC now owns 13,864 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.
Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It offers offers a wide selection of lunch and dinner items including burgers, sandwiches, salads and skillet entrées, along with an assortment of beverages, appetizers, and desserts. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.
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