Darden Restaurants, Inc. (DRI) Cut to Hold at Argus

Darden Restaurants, Inc. (NYSE:DRI) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 17th, MarketBeat Ratings reports. They currently have a $88.00 price target on the restaurant operator’s stock. Argus’ target price would suggest a potential upside of 6.29% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Longbow Research assumed coverage on Darden Restaurants in a research report on Friday, October 13th. They issued a “neutral” rating for the company. ValuEngine cut Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Stifel Nicolaus assumed coverage on Darden Restaurants in a research report on Monday, October 2nd. They issued a “buy” rating and a $92.00 price target for the company. Citigroup Inc. reduced their price target on Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Darden Restaurants in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $87.59.

Shares of Darden Restaurants (DRI) opened at 82.79 on Tuesday. The firm has a 50-day moving average price of $80.90 and a 200-day moving average price of $85.24. The stock has a market cap of $10.24 billion, a PE ratio of 21.44 and a beta of 0.24. Darden Restaurants has a 52 week low of $61.29 and a 52 week high of $95.22.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts forecast that Darden Restaurants will post $4.44 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. grew its stake in shares of Darden Restaurants by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,788 shares of the restaurant operator’s stock valued at $252,000 after purchasing an additional 9 shares during the period. Bruderman Asset Management LLC grew its stake in shares of Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 10 shares during the period. Wedbush Securities Inc. grew its stake in shares of Darden Restaurants by 0.5% in the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock valued at $289,000 after purchasing an additional 15 shares during the period. D.A. Davidson & CO. grew its stake in shares of Darden Restaurants by 1.7% in the 2nd 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 during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock valued at $835,000 after purchasing an additional 28 shares during the period. Institutional investors own 89.59% 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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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