Darden Restaurants (NYSE:DRI) PT Lowered to $82.00 at Robert W. Baird
Darden Restaurants (NYSE:DRI) had its target price cut by Robert W. Baird from $90.00 to $82.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the restaurant operator’s stock.
A number of other brokerages have also weighed in on DRI. BMO Capital Markets raised Darden Restaurants from an underperform rating to a market perform rating and boosted their target price for the stock from $46.00 to $72.00 in a research report on Thursday, April 23rd. KeyCorp boosted their target price on Darden Restaurants from $86.00 to $87.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada decreased their target price on Darden Restaurants from $87.00 to $81.00 and set an outperform rating for the company in a research report on Monday, June 22nd. Cowen assumed coverage on Darden Restaurants in a research report on Friday, February 28th. They issued a market perform rating and a $103.00 target price for the company. Finally, UBS Group reduced their price target on shares of Darden Restaurants from $96.00 to $85.00 and set an outperform rating for the company in a research report on Friday, March 20th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Darden Restaurants currently has a consensus rating of Buy and an average price target of $90.48.
Shares of DRI stock opened at $76.63 on Friday. Darden Restaurants has a 12 month low of $26.15 and a 12 month high of $128.41. The stock has a market cap of $8.81 billion, a PE ratio of -191.58, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. The company has a current ratio of 0.41, a quick ratio of 0.27 and a debt-to-equity ratio of 2.24. The company’s fifty day moving average price is $75.85 and its 200-day moving average price is $87.82.
In other news, insider Todd Burrowes bought 2,564 shares of the stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average cost of $58.50 per share, for a total transaction of $149,994.00. Following the transaction, the insider now owns 25,216 shares of the company’s stock, valued at $1,475,136. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eugene I. Lee, Jr. bought 25,641 shares of the stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $58.50 per share, with a total value of $1,499,998.50. Following the completion of the transaction, the chief executive officer now directly owns 177,264 shares in the company, valued at approximately $10,369,944. The disclosure for this purchase can be found here. Insiders acquired a total of 37,178 shares of company stock valued at $2,174,913 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Efficient Wealth Management LLC bought a new stake in Darden Restaurants in the first quarter worth $26,000. First Financial Corp IN increased its stake in Darden Restaurants by 150.0% in the first quarter. First Financial Corp IN now owns 500 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 300 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Darden Restaurants in the first quarter worth $30,000. Allred Capital Management LLC increased its stake in Darden Restaurants by 120.1% in the first quarter. Allred Capital Management LLC now owns 724 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 395 shares during the period. Finally, Penserra Capital Management LLC increased its stake in Darden Restaurants by 38.8% in the fourth quarter. Penserra Capital Management LLC now owns 840 shares of the restaurant operator’s stock worth $96,000 after purchasing an additional 235 shares during the period. 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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