Darden Restaurants (NYSE:DRI) had its target price cut by Robert W. Baird from $90.00 to $82.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the restaurant operator’s stock.
Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Darden Restaurants from a sell rating to a hold rating in a report on Tuesday, March 24th. Wedbush upgraded Darden Restaurants from a neutral rating to an outperform rating in a report on Sunday, April 19th. Piper Sandler upped their price target on Darden Restaurants from $50.00 to $63.00 in a report on Monday, March 30th. Deutsche Bank cut their price target on Darden Restaurants from $82.00 to $77.00 and set a hold rating on the stock in a report on Monday, March 16th. Finally, Raymond James upped their price target on Darden Restaurants from $75.00 to $90.00 and gave the stock a strong-buy rating in a report 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 company. The stock has an average rating of Buy and a consensus target price of $90.48.
DRI stock opened at $76.63 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.27 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $8.81 billion, a PE ratio of -191.58, a P/E/G ratio of 2.96 and a beta of 1.32. Darden Restaurants has a 12-month low of $26.15 and a 12-month high of $128.41. The business’s fifty day moving average price is $75.85 and its 200 day moving average price is $87.82.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The company’s quarterly revenue was down 43.5% compared to the same quarter last year. Research analysts predict that Darden Restaurants will post 2.46 EPS for the current fiscal year.
In related news, insider Todd Burrowes acquired 2,564 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average cost of $58.50 per share, with a total value of $149,994.00. Following the transaction, the insider now owns 25,216 shares of the company’s stock, valued at $1,475,136. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene I. Lee, Jr. purchased 25,641 shares of Darden Restaurants stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average cost of $58.50 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the chief executive officer now directly owns 177,264 shares in the company, valued at $10,369,944. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,178 shares of company stock valued at $2,174,913 over the last ninety days. 0.47% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Darden Restaurants by 6.7% in the 1st quarter. State Street Corp now owns 6,156,113 shares of the restaurant operator’s stock valued at $335,262,000 after buying an additional 385,441 shares during the period. New England Research & Management Inc. lifted its holdings in shares of Darden Restaurants by 6.3% in the 1st quarter. New England Research & Management Inc. now owns 9,348 shares of the restaurant operator’s stock valued at $509,000 after buying an additional 550 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Darden Restaurants by 1.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 188,367 shares of the restaurant operator’s stock valued at $10,258,000 after buying an additional 3,599 shares during the period. Great Lakes Retirement Inc. lifted its holdings in shares of Darden Restaurants by 16.3% in the 1st quarter. Great Lakes Retirement Inc. now owns 5,136 shares of the restaurant operator’s stock valued at $280,000 after buying an additional 719 shares during the period. Finally, Optimal Asset Management Inc. lifted its holdings in shares of Darden Restaurants by 82.4% in the 1st quarter. Optimal Asset Management Inc. now owns 40,003 shares of the restaurant operator’s stock valued at $2,179,000 after buying an additional 18,071 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.
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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