Maxim Group Believes Denny’s Corp (NASDAQ: DENN) Still Has Room to Grow

By Jason Carr

Maxim Group analyst Stephen Anderson maintained a Buy rating on Denny’s Corp (DENNResearch Report) yesterday and set a price target of $21. The company’s shares closed yesterday at $19.32, close to its 52-week high of $20.41.

Anderson commented:

“We maintain our Buy rating and $21 price target on Denny’s (DENN) following the investor meetings we hosted with management in Milwaukee earlier this week.”

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 9.2% and a 65.8% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Famous Dave’s Of America.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Denny’s Corp with a $21 average price target, an 8.7% upside from current levels. In a report issued on May 20, Wedbush also maintained a Buy rating on the stock with a $21 price target.

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Based on Denny’s Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $15.49 million. In comparison, last year the company had a net profit of $9.76 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Mark Wolfinger, the EVP, Chief Admin Officer & CFO of DENN sold 7,500 shares for a total of $144,079.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.