TheStreet Upgrades Darden Restaurants (NYSE:DRI) to B-

Darden Restaurants (NYSE:DRIGet Rating) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Monday, TheStreetRatingsTable reports.

A number of other brokerages also recently issued reports on DRI. Barclays lowered their price objective on Darden Restaurants from $173.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th. Oppenheimer lowered their price objective on Darden Restaurants from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, March 18th. BMO Capital Markets lowered their price objective on Darden Restaurants from $155.00 to $140.00 in a research report on Friday, March 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Darden Restaurants from $154.00 to $152.00 in a research report on Friday, March 25th. Finally, Cowen lowered their price objective on Darden Restaurants from $175.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, March 25th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Darden Restaurants has a consensus rating of “Buy” and an average price target of $162.05.

NYSE:DRI opened at $126.90 on Monday. The company has a market cap of $15.83 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.76 and a beta of 1.32. The stock’s fifty day moving average price is $130.51 and its two-hundred day moving average price is $139.79. Darden Restaurants has a 1 year low of $116.04 and a 1 year high of $164.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.57.

Darden Restaurants (NYSE:DRIGet Rating) last posted its earnings results on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.16). Darden Restaurants had a return on equity of 36.26% and a net margin of 11.17%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was up 41.3% on a year-over-year basis. On average, analysts expect that Darden Restaurants will post 7.38 earnings per share for the current fiscal year.

In related news, Director Juliana L. Chugg bought 1,925 shares of the company’s stock in a transaction that occurred on Monday, March 28th. The stock was bought at an average cost of $129.01 per share, for a total transaction of $248,344.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. James Reed Financial Services Inc. purchased a new stake in Darden Restaurants in the 4th quarter worth approximately $26,000. Princeton Global Asset Management LLC purchased a new stake in Darden Restaurants in the 1st quarter worth approximately $27,000. Dravo Bay LLC purchased a new stake in Darden Restaurants in the 1st quarter worth approximately $27,000. FourThought Financial LLC purchased a new stake in Darden Restaurants in the 4th quarter worth approximately $31,000. Finally, Benjamin Edwards Inc. purchased a new stake in Darden Restaurants in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 90.71% of the company’s stock.

About Darden Restaurants (Get Rating)

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 30, 2021, it owned and operated 1,834 restaurants, which included 875 under the Olive Garden, 533 under the LongHorn Steakhouse, 170 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 63 under The Capital Grille, 44 under the Seasons 52, 42 under the Bahama Breeze, and 26 under the Eddie V's Prime Seafood brands.

Read More

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.