Darden Restaurants (NYSE:DRI) Given a $126.00 Price Target at Maxim Group

Maxim Group set a $126.00 target price on Darden Restaurants (NYSE:DRI) in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a hold rating on the restaurant operator’s stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank began coverage on shares of Darden Restaurants in a research report on Friday, June 28th. They set a hold rating and a $123.00 price objective for the company. Wells Fargo & Co raised their price objective on shares of Darden Restaurants from $116.00 to $117.00 and gave the company a market perform rating in a research report on Thursday. Stephens lowered shares of Darden Restaurants from an overweight rating to an equal weight rating and set a $121.75 price objective for the company. in a research report on Friday, June 28th. Citigroup reduced their price objective on shares of Darden Restaurants from $146.00 to $144.00 and set a buy rating for the company in a research report on Friday, June 28th. Finally, MKM Partners began coverage on shares of Darden Restaurants in a research report on Tuesday, August 13th. They set a neutral rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Darden Restaurants presently has a consensus rating of Hold and a consensus target price of $126.08.

Darden Restaurants stock traded up $1.28 during trading hours on Friday, hitting $127.34. 1,061,091 shares of the company traded hands, compared to its average volume of 937,882. The firm has a market cap of $15.52 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.34. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $121.68 and its two-hundred day simple moving average is $119.21. Darden Restaurants has a 1-year low of $95.83 and a 1-year high of $128.41.



Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, June 20th. The restaurant operator reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. Darden Restaurants’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. On average, equities research analysts predict that Darden Restaurants will post 6.39 earnings per share for the current year.

In other Darden Restaurants news, CFO Ricardo Cardenas sold 14,128 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $124.87, for a total value of $1,764,163.36. Following the completion of the transaction, the chief financial officer now directly owns 23,848 shares in the company, valued at $2,977,899.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David C. George sold 69,779 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $123.25, for a total transaction of $8,600,261.75. Following the completion of the transaction, the chief operating officer now owns 109,344 shares of the company’s stock, valued at $13,476,648. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,907 shares of company stock valued at $11,975,585. Corporate insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC acquired a new position in shares of Darden Restaurants in the first quarter worth about $40,000. NuWave Investment Management LLC boosted its holdings in shares of Darden Restaurants by 34.5% in the second quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock worth $43,000 after buying an additional 90 shares during the period. Coastal Investment Advisors Inc. boosted its holdings in shares of Darden Restaurants by 115.6% in the second quarter. Coastal Investment Advisors Inc. now owns 373 shares of the restaurant operator’s stock worth $45,000 after buying an additional 200 shares during the period. Motco boosted its holdings in shares of Darden Restaurants by 125.5% in the second quarter. Motco now owns 451 shares of the restaurant operator’s stock worth $55,000 after buying an additional 251 shares during the period. Finally, Kavar Capital Partners LLC acquired a new position in shares of Darden Restaurants in the second quarter worth about $60,000. Institutional investors own 91.28% of the company’s stock.

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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