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

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

Several other research analysts also recently commented on DRI. Mizuho boosted their price objective on shares of Darden Restaurants to $115.00 and gave the company a buy rating in a research report on Friday, June 22nd. Jefferies Financial Group upped their price target on shares of Darden Restaurants from $90.00 to $100.00 and gave the stock a hold rating in a report on Friday, June 22nd. Stephens upped their price target on shares of Darden Restaurants from $105.00 to $125.00 and gave the stock an overweight rating in a report on Friday, June 22nd. Zacks Investment Research downgraded shares of Darden Restaurants from a buy rating to a hold rating in a report on Monday, June 11th. Finally, SunTrust Banks upped their price target on shares of Darden Restaurants to $117.00 and gave the stock a buy rating in a report on Friday, June 22nd. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Darden Restaurants has an average rating of Buy and a consensus price target of $118.09.

Shares of DRI opened at $119.05 on Thursday. Darden Restaurants has a one year low of $77.55 and a one year high of $120.93. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.31 and a beta of 0.15. 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 (NYSE:DRI) last announced its quarterly earnings data on Thursday, June 21st. The restaurant operator reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. Darden Restaurants had a net margin of 7.38% and a return on equity of 29.02%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. sell-side analysts anticipate that Darden Restaurants will post 5.51 earnings per share for the current fiscal year.

In related news, SVP Douglas J. Milanes sold 2,186 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $111.06, for a total value of $242,777.16. Following the sale, the senior vice president now owns 792 shares of the company’s stock, valued at $87,959.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John W. Madonna sold 700 shares of the business’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 sale, the senior vice president now directly owns 706 shares in the company, valued at approximately $77,102.26. The disclosure for this sale can be found here. In the last three months, insiders sold 182,236 shares of company stock worth $19,609,826. 0.65% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia grew its stake in shares of Darden Restaurants by 3.1% in the second quarter. Commonwealth Bank of Australia now owns 15,345 shares of the restaurant operator’s stock worth $1,637,000 after purchasing an additional 459 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Darden Restaurants by 21.1% in the second quarter. Advisory Services Network LLC now owns 2,708 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 471 shares during the last quarter. Catawba Capital Management VA boosted its position in Darden Restaurants by 5.4% during the second quarter. Catawba Capital Management VA now owns 10,225 shares of the restaurant operator’s stock valued at $1,095,000 after acquiring an additional 520 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Darden Restaurants by 29.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,335 shares of the restaurant operator’s stock valued at $250,000 after acquiring an additional 535 shares during the last quarter. Finally, Castleark Management LLC boosted its position in Darden Restaurants by 13.4% during the second quarter. Castleark Management LLC now owns 4,640 shares of the restaurant operator’s stock valued at $497,000 after acquiring an additional 550 shares during the last quarter. 89.48% of the stock is currently owned by institutional investors.

About Darden Restaurants

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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