Darden Restaurants (NYSE:DRI) Price Target Cut to $170.00 by Analysts at Wedbush

Darden Restaurants (NYSE:DRIGet Free Report) had its price objective cut by analysts at Wedbush from $181.00 to $170.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would indicate a potential upside of 15.14% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Darden Restaurants from $176.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 28th. Guggenheim increased their price target on Darden Restaurants from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. TD Cowen restated a “buy” rating and set a $190.00 target price on shares of Darden Restaurants in a report on Monday, April 22nd. Oppenheimer cut their target price on Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley dropped their price objective on Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Darden Restaurants has a consensus rating of “Moderate Buy” and a consensus target price of $177.38.

Check Out Our Latest Report on DRI

Darden Restaurants Trading Down 0.6 %

Shares of DRI opened at $147.64 on Tuesday. The company has a market capitalization of $17.62 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.52 and a beta of 1.29. Darden Restaurants has a one year low of $133.36 and a one year high of $176.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. The stock has a 50-day moving average price of $152.03 and a 200 day moving average price of $160.10.

Darden Restaurants (NYSE:DRIGet Free Report) last released its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.01). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business earned $2.34 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Darden Restaurants will post 8.85 EPS for the current fiscal year.

Darden Restaurants declared that its board has approved a share buyback program on Thursday, March 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the restaurant operator to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $156.15, for a total value of $734,998.05. Following the transaction, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at approximately $2,994,800.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Matthew R. Broad sold 4,707 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the sale, the senior vice president now owns 19,179 shares in the company, valued at approximately $2,994,800.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Simon sold 1,219 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $158.21, for a total transaction of $192,857.99. Following the sale, the director now owns 6,281 shares in the company, valued at approximately $993,717.01. The disclosure for this sale can be found here. Insiders sold a total of 13,599 shares of company stock worth $2,197,891 in the last three months. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Darden Restaurants

A number of institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC raised its stake in Darden Restaurants by 131.3% during the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock worth $26,000 after buying an additional 88 shares during the last quarter. ESL Trust Services LLC purchased a new position in shares of Darden Restaurants during the first quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new position in Darden Restaurants during the 4th quarter valued at $29,000. Hartford Financial Management Inc. raised its stake in shares of Darden Restaurants by 65.1% during the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 71 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Darden Restaurants during the 4th quarter worth $33,000. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Company Profile

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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.

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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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