Darden Restaurants’ (DRI) Sector Perform Rating Reaffirmed at Royal Bank Of Canada
Darden Restaurants, Inc. (NYSE:DRI)‘s stock had its “sector perform” rating reiterated by Royal Bank Of Canada in a report issued on Friday. They currently have a $90.00 price objective on the restaurant operator’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.50% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. J P Morgan Chase & Co reiterated a “neutral” rating and set a $93.00 price target (up previously from $82.00) on shares of Darden Restaurants in a research report on Wednesday, June 28th. Jefferies Group LLC increased their price target on Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Maxim Group reiterated a “hold” rating and set a $90.00 price target on shares of Darden Restaurants in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $87.00 price target (up previously from $81.00) on shares of Darden Restaurants in a research report on Wednesday, June 28th. Finally, BidaskClub downgraded Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Darden Restaurants has a consensus rating of “Hold” and an average target price of $84.86.
Shares of Darden Restaurants (NYSE:DRI) traded up 1.97% during mid-day trading on Friday, reaching $79.24. The company had a trading volume of 2,643,660 shares. The stock has a 50 day moving average of $82.69 and a 200-day moving average of $84.83. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 20.84 and a beta of 0.27. Darden Restaurants has a 52 week low of $60.16 and a 52 week high of $95.22.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. Darden Restaurants’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, analysts expect that Darden Restaurants will post $4.46 earnings per share for the current fiscal year.
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In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total transaction of $8,528,387.50. Following the completion of the sale, the insider now owns 165,062 shares of the company’s stock, valued at $15,116,377.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. M&R Capital Management Inc. acquired a new stake in Darden Restaurants during the second quarter worth $108,000. D.A. Davidson & CO. increased its stake in Darden Restaurants by 1.7% during the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after acquiring an additional 21 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in Darden Restaurants by 255.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after acquiring an additional 1,022 shares during the last quarter. Van ECK Associates Corp increased its stake in Darden Restaurants by 4.6% during the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 71 shares during the last quarter. Finally, Huntington National Bank increased its stake in Darden Restaurants by 4.6% during the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after acquiring an additional 70 shares during the last quarter. 88.65% of the stock is owned by institutional investors.
Darden Restaurants Company Profile
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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