Darden Restaurants (NYSE:DRI) had its price objective upped by KeyCorp from $86.00 to $87.00 in a report published on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the restaurant operator’s stock. KeyCorp also issued estimates for Darden Restaurants’ Q2 2021 earnings at $0.41 EPS.

Several other research firms also recently weighed in on DRI. UBS Group dropped their price target on Darden Restaurants from $96.00 to $85.00 and set an outperform rating on the stock in a research note on Friday, March 20th. Royal Bank of Canada lowered their target price on Darden Restaurants from $87.00 to $81.00 and set an outperform rating on the stock in a research note on Monday, June 22nd. Bank of America upped their target price on Darden Restaurants from $75.00 to $85.00 and gave the stock a buy rating in a research note on Friday. Cfra lowered their target price on Darden Restaurants from $120.00 to $58.00 and set a hold rating on the stock in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on Darden Restaurants from $66.00 to $74.00 and gave the stock a neutral rating in a research note on Wednesday, June 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Darden Restaurants presently has an average rating of Buy and an average price target of $90.48.

Darden Restaurants stock opened at $76.63 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.27 and a current ratio of 0.41. The business’s 50-day simple moving average is $75.85 and its two-hundred day simple moving average is $87.82. The company has a market cap of $8.81 billion, a PE ratio of -191.58, a PEG ratio of 2.96 and a beta of 1.32. Darden Restaurants has a fifty-two week low of $26.15 and a fifty-two week high of $128.41.

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

In other news, insider Todd Burrowes bought 2,564 shares of Darden Restaurants stock in a transaction on Thursday, April 23rd. The stock was acquired at an average price of $58.50 per share, with a total value of $149,994.00. Following the completion of the acquisition, the insider now directly owns 25,216 shares of the company’s stock, valued at $1,475,136. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene I. Lee, Jr. bought 25,641 shares of Darden Restaurants stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $1,499,998.50. Following the acquisition, the chief executive officer now directly owns 177,264 shares of the company’s stock, valued at $10,369,944. The disclosure for this purchase can be found here. Insiders have acquired 37,178 shares of company stock valued at $2,174,913 in the last three months. Insiders own 0.47% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Melvin Capital Management LP acquired a new stake in shares of Darden Restaurants in the first quarter valued at approximately $175,634,000. Capital International Investors acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at approximately $294,757,000. Capital World Investors increased its holdings in shares of Darden Restaurants by 29.1% in the first quarter. Capital World Investors now owns 6,550,761 shares of the restaurant operator’s stock valued at $356,754,000 after purchasing an additional 1,474,817 shares during the last quarter. Norges Bank acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at approximately $143,395,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Darden Restaurants by 39.2% in the first quarter. Victory Capital Management Inc. now owns 3,346,998 shares of the restaurant operator’s stock valued at $182,278,000 after purchasing an additional 942,118 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

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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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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