Darden Restaurants, Inc. (DRI) Downgraded by ValuEngine
Darden Restaurants, Inc. (NYSE:DRI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other brokerages have also recently commented on DRI. J P Morgan Chase & Co restated a “neutral” rating and set a $93.00 price objective (up previously from $82.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Credit Suisse Group reduced their price objective on Darden Restaurants from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 27th. Canaccord Genuity restated a “buy” rating and set a $102.00 price objective on shares of Darden Restaurants in a research note on Friday, June 9th. BMO Capital Markets boosted their price objective on Darden Restaurants from $85.00 to $87.00 and gave the stock a “market perform” rating in a research note on Friday, June 30th. Finally, Stifel Nicolaus initiated coverage on Darden Restaurants in a research note on Monday. They issued a “buy” rating and a $92.00 price target on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $86.91.
Shares of Darden Restaurants (NYSE DRI) opened at 79.60 on Thursday. The stock has a market cap of $9.97 billion, a P/E ratio of 20.61 and a beta of 0.24. Darden Restaurants has a one year low of $60.69 and a one year high of $95.22. The firm’s 50-day moving average price is $81.91 and its 200 day moving average price is $85.20.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.99. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Equities research analysts expect that Darden Restaurants will post $4.45 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Fulton Bank N.A. grew its holdings in shares of Darden Restaurants by 22.4% during the third quarter. Fulton Bank N.A. now owns 3,936 shares of the restaurant operator’s stock valued at $310,000 after purchasing an additional 720 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of Darden Restaurants during the second quarter valued at approximately $3,811,000. Toronto Dominion Bank grew its holdings in shares of Darden Restaurants by 26.0% during the second quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock valued at $3,808,000 after purchasing an additional 8,694 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in shares of Darden Restaurants by 9,550.4% during the second quarter. Archford Capital Strategies LLC now owns 12,449 shares of the restaurant operator’s stock valued at $731,000 after purchasing an additional 12,320 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Darden Restaurants during the second quarter valued at approximately $349,000. 88.65% of the stock is owned by institutional investors.
Darden Restaurants Company Profile
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).
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