Darden Restaurants, Inc. (NYSE:DRI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, October 5th.
A number of other equities analysts also recently issued reports on DRI. Canaccord Genuity reissued a “buy” rating and set a $102.00 price target on shares of Darden Restaurants in a research report on Friday, June 9th. Robert W. Baird restated a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Darden Restaurants in a research note on Monday, June 19th. Maxim Group restated a “hold” rating and set a $90.00 price objective on shares of Darden Restaurants in a research note on Wednesday, June 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $86.00 price target (up from $83.00) on shares of Darden Restaurants in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. increased their price target on Darden Restaurants in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $87.82.
Shares of Darden Restaurants (NYSE DRI) traded up 1.27% on Thursday, hitting $81.22. 509,445 shares of the stock were exchanged. The stock’s 50-day moving average is $80.96 and its 200-day moving average is $85.33. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 21.03 and a beta of 0.25. Darden Restaurants has a 1-year low of $60.97 and a 1-year high of $95.22.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 23.39% and a net margin of 6.27%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company posted $0.88 EPS. Darden Restaurants’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts forecast that Darden Restaurants will post $4.45 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of DRI. M&R Capital Management Inc. purchased a new stake in shares of Darden Restaurants in the 2nd quarter valued at about $108,000. D.A. Davidson & CO. raised its stake in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after acquiring an additional 21 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in Darden Restaurants by 255.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock valued at $129,000 after acquiring an additional 1,022 shares during the last quarter. Van ECK Associates Corp raised its stake in Darden Restaurants by 4.6% during the 1st quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock valued at $136,000 after acquiring an additional 71 shares during the last quarter. Finally, Huntington National Bank raised its stake in Darden Restaurants by 4.6% during the 2nd quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after acquiring an additional 70 shares during the last quarter. 89.56% of the stock is owned by institutional investors and hedge funds.
About Darden Restaurants
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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