Stifel Nicolaus Lowers Darden Restaurants (DRI) Price Target to $100.00
Darden Restaurants (NYSE:DRI) had its price target lowered by stock analysts at Stifel Nicolaus from $105.00 to $100.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Stifel Nicolaus’ price target indicates a potential upside of 16.36% from the stock’s previous close.
Several other research firms have also weighed in on DRI. SunTrust Banks set a $94.00 target price on shares of Darden Restaurants and gave the company a “hold” rating in a report on Monday, December 11th. Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Maxim Group reiterated a “buy” rating and issued a $112.00 price objective (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Mizuho started coverage on shares of Darden Restaurants in a report on Thursday, March 15th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $95.00 price objective on shares of Darden Restaurants in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.43.
Shares of Darden Restaurants (NYSE DRI) opened at $85.94 on Friday. Darden Restaurants has a 12 month low of $75.20 and a 12 month high of $100.11. The stock has a market cap of $11,526.94, a price-to-earnings ratio of 22.04, a PEG ratio of 1.77 and a beta of 0.22. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47.
In other news, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the sale, the insider now owns 164,396 shares in the company, valued at approximately $15,913,532.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ricardo Cardenas sold 10,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the completion of the sale, the chief financial officer now owns 20,046 shares in the company, valued at approximately $1,947,869.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,866 shares of company stock worth $7,252,094. Company insiders own 0.63% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $126,000. Grove Bank & Trust grew its position in shares of Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock valued at $145,000 after buying an additional 1,120 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $200,000. Texas Yale Capital Corp. bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $205,000. Finally, Ifrah Financial Services Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $208,000. 90.44% 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 June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.
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