Darden Restaurants (NYSE:DRI) Price Target Lowered to $140.00 at Cowen

Darden Restaurants (NYSE:DRIGet Rating) had its price objective reduced by investment analysts at Cowen from $155.00 to $140.00 in a report released on Thursday, The Fly reports. Cowen’s target price suggests a potential upside of 20.12% from the stock’s previous close.

Several other analysts also recently weighed in on DRI. Stephens dropped their price objective on Darden Restaurants from $176.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, March 25th. BMO Capital Markets dropped their target price on Darden Restaurants from $155.00 to $140.00 in a research report on Friday, March 25th. KeyCorp dropped their target price on Darden Restaurants from $160.00 to $136.00 in a research report on Wednesday. Credit Suisse Group dropped their target price on Darden Restaurants from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, March 25th. Finally, MKM Partners dropped their target price on Darden Restaurants from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Darden Restaurants currently has an average rating of “Buy” and a consensus target price of $155.74.

DRI opened at $116.55 on Thursday. The firm has a market cap of $14.54 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.32. Darden Restaurants has a 52-week low of $111.57 and a 52-week high of $164.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.57 and a current ratio of 0.70. The business’s fifty day moving average is $126.53 and its 200-day moving average is $135.29.

Darden Restaurants (NYSE:DRIGet Rating) last announced its quarterly earnings data on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share 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 business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. Darden Restaurants’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, research analysts predict that Darden Restaurants will post 7.38 earnings per share for the current fiscal year.

In other Darden Restaurants news, Director Juliana L. Chugg bought 1,925 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was acquired at an average price of $129.01 per share, with a total value of $248,344.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Wetherby Asset Management Inc. grew its stake in Darden Restaurants by 1.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,800 shares of the restaurant operator’s stock valued at $874,000 after acquiring an additional 74 shares during the period. Resources Investment Advisors LLC. grew its stake in Darden Restaurants by 5.7% in the fourth quarter. Resources Investment Advisors LLC. now owns 1,437 shares of the restaurant operator’s stock valued at $216,000 after acquiring an additional 78 shares during the period. Affinity Investment Advisors LLC grew its stake in Darden Restaurants by 0.7% in the first quarter. Affinity Investment Advisors LLC now owns 12,330 shares of the restaurant operator’s stock valued at $1,639,000 after acquiring an additional 81 shares during the period. Cetera Advisor Networks LLC grew its stake in Darden Restaurants by 2.6% in the first quarter. Cetera Advisor Networks LLC now owns 3,237 shares of the restaurant operator’s stock valued at $430,000 after acquiring an additional 83 shares during the period. Finally, Sage Private Wealth Group LLC grew its stake in Darden Restaurants by 31.9% in the fourth quarter. Sage Private Wealth Group LLC now owns 376 shares of the restaurant operator’s stock valued at $56,000 after acquiring an additional 91 shares during the period. 90.71% of the stock is owned by hedge funds and other institutional investors.

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.

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