Argus Raises Darden Restaurants (DRI) Price Target to $240.00

Darden Restaurants (NYSE:DRI) had its target price boosted by Argus to $240.00 in a research report released on Thursday, The Fly reports. They currently have a buy rating on the restaurant operator’s stock.

DRI has been the subject of several other research reports. Piper Jaffray Companies reiterated an overweight rating and set a $120.00 target price on shares of Darden Restaurants in a research report on Monday, July 23rd. Mizuho upped their target price on shares of Darden Restaurants to $115.00 and gave the company a buy rating in a research report on Friday, June 22nd. Robert W. Baird cut shares of Darden Restaurants from an outperform rating to a neutral rating in a research report on Monday. Jefferies Financial Group upped their target price on shares of Darden Restaurants from $90.00 to $100.00 and gave the company a hold rating in a research report on Friday, June 22nd. Finally, SunTrust Banks upped their target price on shares of Darden Restaurants to $117.00 and gave the company a buy rating in a research report on Friday, June 22nd. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $118.09.

DRI stock traded down $0.02 during trading on Thursday, hitting $118.83. The company had a trading volume of 4,888 shares, compared to its average volume of 866,662. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.25. Darden Restaurants has a 12 month low of $77.55 and a 12 month high of $120.93. The stock has a market capitalization of $14.67 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.31 and a beta of 0.15.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, June 21st. The restaurant operator reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Darden Restaurants had a net margin of 7.38% and a return on equity of 29.02%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. equities analysts expect that Darden Restaurants will post 5.5 earnings per share for the current fiscal year.

In related news, insider Daniel J. Kiernan sold 6,000 shares of the company’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $107.38, for a total value of $644,280.00. Following the completion of the transaction, the insider now directly owns 6,715 shares of the company’s stock, valued at approximately $721,056.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John W. Madonna sold 700 shares of the company’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $109.21, for a total transaction of $76,447.00. Following the completion of the transaction, the senior vice president now directly owns 706 shares of the company’s stock, valued at $77,102.26. The disclosure for this sale can be found here. Insiders sold a total of 182,236 shares of company stock valued at $19,609,826 in the last three months. 0.65% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia lifted its position in Darden Restaurants by 3.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 15,345 shares of the restaurant operator’s stock worth $1,637,000 after buying an additional 459 shares in the last quarter. Advisory Services Network LLC lifted its position in Darden Restaurants by 21.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,708 shares of the restaurant operator’s stock worth $290,000 after buying an additional 471 shares in the last quarter. Catawba Capital Management VA lifted its position in Darden Restaurants by 5.4% during the 2nd quarter. Catawba Capital Management VA now owns 10,225 shares of the restaurant operator’s stock worth $1,095,000 after buying an additional 520 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Darden Restaurants by 29.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,335 shares of the restaurant operator’s stock worth $250,000 after buying an additional 535 shares in the last quarter. Finally, Castleark Management LLC lifted its position in Darden Restaurants by 13.4% during the 2nd quarter. Castleark Management LLC now owns 4,640 shares of the restaurant operator’s stock worth $497,000 after buying an additional 550 shares in the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

Darden Restaurants Company Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.

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The Fly

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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