Darden Restaurants (NYSE:DRI) had its target price raised by SunTrust Banks from $85.00 to $100.00 in a report released on Friday morning, 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.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus lifted their target price on shares of Darden Restaurants from $75.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Darden Restaurants from $66.00 to $74.00 and gave the stock a neutral rating in a research note on Wednesday, June 24th. Goldman Sachs Group raised shares of Darden Restaurants from a sell rating to a neutral rating and reduced their price objective for the company from $114.00 to $50.00 in a research report on Friday, March 20th. Bank of America boosted their price objective on shares of Darden Restaurants from $75.00 to $85.00 and gave the company a buy rating in a research report on Friday. Finally, Loop Capital reduced their price objective on shares of Darden Restaurants from $140.00 to $80.00 and set a buy rating on the stock in a research report on Friday, March 20th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $90.48.
Shares of DRI opened at $76.63 on Friday. The firm has a market cap 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 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 fifty-two week low of $26.15 and a fifty-two week high of $128.41. The firm 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 earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.64) by $0.40. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was down 43.5% on a year-over-year basis. As a group, equities research analysts predict that Darden Restaurants will post 2.46 earnings per share for the current year.
In related news, CFO Ricardo Cardenas bought 2,991 shares of the stock in a transaction on Thursday, April 23rd. The shares were acquired at an average price of $58.50 per share, for a total transaction of $174,973.50. Following the purchase, the chief financial officer now owns 22,432 shares of the company’s stock, valued at $1,312,272. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Todd Burrowes purchased 2,564 shares of Darden Restaurants stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $58.50 per share, with a total value of $149,994.00. Following the transaction, 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. Insiders have acquired a total of 37,178 shares of company stock worth $2,174,913 in the last 90 days. Company insiders own 0.47% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. Efficient Wealth Management LLC purchased a new stake in shares of Darden Restaurants during the 1st quarter valued at about $26,000. First Financial Corp IN increased its position in shares of Darden Restaurants by 150.0% during the 1st quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Darden Restaurants during the 1st quarter valued at about $30,000. Allred Capital Management LLC increased its holdings in Darden Restaurants by 120.1% in 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 in the last quarter. Finally, Bartlett & Co. LLC purchased a new stake in Darden Restaurants in the 1st quarter worth approximately $54,000. 88.12% of the stock is owned by hedge funds and other 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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