Darden Restaurants (NYSE:DRI) Given New $90.00 Price Target at Loop Capital

Darden Restaurants (NYSE:DRI) had its price objective lifted by Loop Capital from $80.00 to $90.00 in a research report report published on Friday, The Fly reports. Loop Capital currently has a buy rating on the restaurant operator’s stock.

DRI has been the subject of several other reports. Raymond James lifted their price objective on Darden Restaurants from $75.00 to $90.00 and gave the stock a strong-buy rating in a research report on Wednesday, May 20th. Gordon Haskett raised Darden Restaurants from a hold rating to a buy rating in a research report on Wednesday, March 25th. ValuEngine raised Darden Restaurants from a sell rating to a hold rating in a research report on Tuesday, March 24th. Robert W. Baird lowered their price objective on Darden Restaurants from $90.00 to $82.00 and set a neutral rating for the company in a research report on Friday. Finally, Jefferies Financial Group lifted their price objective on Darden Restaurants from $40.00 to $55.00 and gave the stock a hold rating in a research report on Wednesday, April 22nd. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $90.48.

Shares of NYSE:DRI opened at $76.63 on Friday. The firm has a market cap of $8.81 billion, a P/E ratio of -191.58, a P/E/G ratio of 2.96 and a beta of 1.32. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 2.24. Darden Restaurants has a 12-month low of $26.15 and a 12-month high of $128.41. The business has a fifty day simple moving average of $75.85 and a 200 day simple moving average of $87.82.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.64) by $0.40. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. Darden Restaurants’s revenue for the quarter was down 43.5% compared to the same quarter last year. During the same period last year, the company earned $1.76 EPS. As a group, equities research analysts expect that Darden Restaurants will post 2.46 EPS for the current year.

In other Darden Restaurants news, CFO Ricardo Cardenas bought 2,991 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, for a total transaction of $174,973.50. Following the purchase, the chief financial officer now directly owns 22,432 shares of the company’s stock, valued at $1,312,272. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd Burrowes bought 2,564 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average price of $58.50 per share, for a total transaction of $149,994.00. Following the purchase, the insider now directly owns 25,216 shares in the company, valued at $1,475,136. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,178 shares of company stock valued at $2,174,913 in the last quarter. Company insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Greenleaf Trust boosted its stake in shares of Darden Restaurants by 5.1% in the 4th quarter. Greenleaf Trust now owns 1,987 shares of the restaurant operator’s stock worth $217,000 after buying an additional 97 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Darden Restaurants by 0.4% in the 4th quarter. Utah Retirement Systems now owns 23,497 shares of the restaurant operator’s stock worth $2,562,000 after buying an additional 100 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in shares of Darden Restaurants by 2.9% in the 4th quarter. Vident Investment Advisory LLC now owns 4,258 shares of the restaurant operator’s stock worth $464,000 after buying an additional 120 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Darden Restaurants by 4.1% in the 4th quarter. Wesbanco Bank Inc. now owns 3,691 shares of the restaurant operator’s stock worth $402,000 after buying an additional 145 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in shares of Darden Restaurants by 2.7% in the 1st quarter. Sowell Financial Services LLC now owns 6,068 shares of the restaurant operator’s stock worth $330,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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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