Darden Restaurants (NYSE:DRI) had its target price lifted by SunTrust Banks from $85.00 to $100.00 in a report issued on Friday, The Fly reports. They currently have a buy rating on the restaurant operator’s stock. SunTrust Banks also issued estimates for Darden Restaurants’ Q4 2021 earnings at $1.10 EPS and FY2022 earnings at $5.65 EPS.
A number of other equities analysts have also weighed in on DRI. Loop Capital lowered their price objective on Darden Restaurants from $140.00 to $80.00 and set a buy rating on the stock in a research note on Friday, March 20th. Cfra lowered their price objective on Darden Restaurants from $120.00 to $58.00 and set a hold rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Co boosted their price objective on Darden Restaurants from $71.00 to $91.00 and gave the stock an equal weight rating in a research note on Thursday, June 11th. Cowen began coverage on Darden Restaurants in a research note on Friday, February 28th. They set a market perform rating and a $103.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on Darden Restaurants from $75.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, May 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $90.48.
Shares of DRI opened at $76.63 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.27 and a current ratio of 0.41. Darden Restaurants has a one year low of $26.15 and a one year high of $128.41. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of -191.58, a PEG ratio of 2.96 and a beta of 1.32. The stock has a 50 day moving average price of $75.85 and a 200 day moving average price of $87.82.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.64) by $0.40. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was down 43.5% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post 2.46 earnings per share for the current year.
In other news, CEO Eugene I. Lee, Jr. purchased 25,641 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $1,499,998.50. Following the purchase, the chief executive officer now directly owns 177,264 shares of the company’s stock, valued at approximately $10,369,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Burrowes purchased 2,564 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $149,994.00. Following the purchase, the insider now directly owns 25,216 shares in the company, valued at $1,475,136. The disclosure for this purchase can be found here. In the last quarter, insiders bought 37,178 shares of company stock worth $2,174,913. Company insiders own 0.47% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Efficient Wealth Management LLC acquired a new stake in Darden Restaurants during the 1st quarter worth approximately $26,000. First Financial Corp IN lifted its position in Darden Restaurants by 150.0% during the 1st quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock worth $27,000 after acquiring an additional 300 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Darden Restaurants during the 1st quarter worth approximately $30,000. Allred Capital Management LLC lifted its position in Darden Restaurants by 120.1% during the 1st quarter. Allred Capital Management LLC now owns 724 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 395 shares during the period. Finally, Penserra Capital Management LLC lifted its position in Darden Restaurants by 38.8% during the 4th quarter. Penserra Capital Management LLC now owns 840 shares of the restaurant operator’s stock worth $96,000 after acquiring an additional 235 shares during the period. 88.12% of the stock is owned by institutional investors.
Darden Restaurants Company Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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