Darden Restaurants, Inc. (DRI) Price Target Cut to $90.00
Darden Restaurants, Inc. (NYSE:DRI) had its price objective decreased by equities research analysts at Citigroup Inc. from $105.00 to $90.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup Inc.’s price target indicates a potential upside of 12.35% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. boosted their price target on Darden Restaurants in a research report on Monday, June 26th. Bank of America Corporation set a $80.00 price objective on Darden Restaurants and gave the company a “buy” rating in a research report on Monday, June 26th. Canaccord Genuity reiterated a “buy” rating and set a $102.00 target price on shares of Darden Restaurants in a research note on Friday, June 9th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, July 11th. Finally, BidaskClub lowered Darden Restaurants from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.91.
Darden Restaurants (NYSE DRI) opened at 80.11 on Monday. The company has a market capitalization of $10.03 billion, a P/E ratio of 20.74 and a beta of 0.24. The firm has a 50-day moving average price of $82.03 and a 200 day moving average price of $85.24. Darden Restaurants has a 12 month low of $60.69 and a 12 month high of $95.22.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business earned $0.88 EPS. Darden Restaurants’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that Darden Restaurants will post $4.45 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of DRI. D.A. Davidson & CO. boosted its stake in shares of Darden Restaurants by 1.7% during the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares in the last quarter. M&R Capital Management Inc. acquired a new position in shares of Darden Restaurants in the second quarter valued at approximately $108,000. Farmers & Merchants Investments Inc. increased its stake in shares of Darden Restaurants by 255.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock valued at $129,000 after buying an additional 1,022 shares during the period. Huntington National Bank increased its stake in shares of Darden Restaurants by 4.6% in the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after buying an additional 70 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Darden Restaurants by 4.6% in the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 71 shares during the period. 88.65% 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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