The Darden Restaurants, Inc. (DRI) Receives Average Rating of “Hold” from Analysts

The Darden Restaurants, Inc. (DRI) Receives Average Rating of “Hold” from Analysts

Several research firms have recently commented on DRI. Credit Suisse Group AG reiterated a “hold” rating and set a $74.00 target price on shares of Darden Restaurants in a research note on Wednesday, March 29th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, February 21st. Maxim Group raised their price objective on Darden Restaurants from $80.00 to $87.00 and gave the stock a “hold” rating in a research note on Thursday, March 30th. Canaccord Genuity restated a “buy” rating and set a $84.00 price objective on shares of Darden Restaurants in a research note on Thursday, March 2nd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $85.00 price objective on shares of Darden Restaurants in a research note on Tuesday, March 21st.

Darden Restaurants, Inc. (NYSE:DRI) has received a consensus recommendation of “Hold” from the twenty-four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $77.94.

Darden Restaurants (DRI) opened at 91.30 on Monday. The company has a 50-day moving average of $86.65 and a 200-day moving average of $78.37. Darden Restaurants has a 52 week low of $59.50 and a 52 week high of $91.75. The stock has a market cap of $11.35 billion, a P/E ratio of 23.32 and a beta of 0.28. Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Monday, March 27th. The restaurant operator reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.05. Darden Restaurants had a net margin of 6.22% and a return on equity of 25.92%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $1.21 earnings per share. Darden Restaurants’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post $3.99 EPS for the current fiscal year.

In related news, insider Eugene I. Lee, Jr. sold 98,124 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $83.19, for a total value of $8,162,935.56. Following the completion of the transaction, the insider now owns 177,737 shares in the company, valued at approximately $14,785,941.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David C. George sold 84,283 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $83.13, for a total value of $7,006,445.79. Following the completion of the transaction, the insider now owns 78,010 shares of the company’s stock, valued at approximately $6,484,971.30. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock. Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp bought a new position in Darden Restaurants during the fourth quarter worth $113,000. Ledyard National Bank raised its position in Darden Restaurants by 399.4% in the first quarter. Ledyard National Bank now owns 1,638 shares of the restaurant operator’s stock worth $137,000 after buying an additional 1,310 shares during the period. TLP Group LLC bought a new position in Darden Restaurants during the third quarter worth $127,000. MEMBERS Trust Co bought a new position in Darden Restaurants during the first quarter worth $201,000. Finally, Whittier Trust Co. raised its position in Darden Restaurants by 5.0% in the first quarter. Whittier Trust Co. now owns 2,477 shares of the restaurant operator’s stock worth $207,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DRI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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