Wedbush Remains a Buy on Denny’s (DENN)

In a report released today, Nick Setyan from Wedbush maintained a Buy rating on Denny’s (DENN), with a price target of $12.80. The company’s shares closed last Monday at $8.27.

According to, Setyan is a 3-star analyst with an average return of 0.4% and a 52.6% success rate. Setyan covers the Services sector, focusing on stocks such as Papa John’s International, Del Taco Restaurants, and Dine Brands Global.

Currently, the analyst consensus on Denny’s is a Moderate Buy with an average price target of $12.40.

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Based on Denny’s’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $96.7 million and net profit of $9.01 million. In comparison, last year the company earned revenue of $151 million and had a net profit of $15.49 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DENN in relation to earlier this year. Most recently, in May 2020, Mark Wolfinger, the President of DENN sold 6,884 shares for a total of $78,615.

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Denny’s Corp. operates as a family restaurant chain, which owns and operates Denny’s restaurant brand. It provides breakfast, lunch and dinner including craveable burgers, sandwiches, salads and entrees. The company also offers appetizers and desserts cater to the late-night crowd. It has various franchised, licensed, and company-owned restaurants across Canada, Costa Rica, Guam, Honduras, Mexico, New Zealand, Puerto Rico & the United States. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.

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