UBS Group Raises Darden Restaurants (NYSE:DRI) Price Target to $195.00

Darden Restaurants (NYSE:DRI) had its target price lifted by research analysts at UBS Group from $188.00 to $195.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. UBS Group’s target price would suggest a potential upside of 14.14% from the stock’s current price.

Several other research firms have also recently issued reports on DRI. Evercore ISI upgraded shares of Darden Restaurants from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $205.00 in a research note on Friday. Wedbush boosted their price objective on shares of Darden Restaurants from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Argus dropped their target price on shares of Darden Restaurants from $186.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Bank of America boosted their target price on shares of Darden Restaurants from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered their price target on Darden Restaurants from $176.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Darden Restaurants presently has an average rating of “Moderate Buy” and a consensus target price of $175.29.

Darden Restaurants Stock Down 0.8 %

DRI stock traded down $1.42 during trading on Friday, hitting $170.85. 379,439 shares of the stock traded hands, compared to its average volume of 1,223,160. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants has a 1 year low of $133.36 and a 1 year high of $176.84. The firm’s 50 day moving average is $149.69 and its two-hundred day moving average is $153.39.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Darden Restaurants’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Darden Restaurants will post 9.47 EPS for the current year.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, insider Melvin John Martin sold 2,500 shares of Darden Restaurants stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $141.09, for a total value of $352,725.00. Following the completion of the transaction, the insider now directly owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $141.09, for a total transaction of $352,725.00. Following the sale, the insider now owns 11,691 shares in the company, valued at approximately $1,649,483.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sarah H. King sold 15,941 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total transaction of $2,344,283.46. Following the completion of the sale, the senior vice president now owns 447 shares of the company’s stock, valued at approximately $65,735.82. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Darden Restaurants

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cibc World Markets Corp lifted its holdings in Darden Restaurants by 39.7% during the fourth quarter. Cibc World Markets Corp now owns 30,344 shares of the restaurant operator’s stock worth $4,986,000 after buying an additional 8,619 shares during the period. APG Asset Management US Inc. acquired a new stake in Darden Restaurants during the 4th quarter worth about $3,901,000. Russell Investments Group Ltd. raised its position in Darden Restaurants by 206.5% during the first quarter. Russell Investments Group Ltd. now owns 49,082 shares of the restaurant operator’s stock valued at $8,204,000 after acquiring an additional 33,066 shares in the last quarter. Rise Advisors LLC increased its holdings in shares of Darden Restaurants by 131.3% during the 1st quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 88 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Darden Restaurants in the fourth quarter valued at $838,000. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Company Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.