Darden Restaurants (NYSE:DRI) has been given a $126.00 target price by research analysts at Maxim Group in a research report issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the restaurant operator’s stock. Maxim Group’s price target points to a potential downside of 1.05% from the stock’s previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Co upped their target price on Darden Restaurants from $116.00 to $117.00 and gave the company a “market perform” rating in a research report on Thursday. Stephens lowered Darden Restaurants from an “overweight” rating to an “equal weight” rating and set a $121.75 target price on the stock. in a research report on Friday, June 28th. Citigroup reduced their target price on Darden Restaurants from $146.00 to $144.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Evercore ISI initiated coverage on Darden Restaurants in a research report on Tuesday, June 11th. They set an “outperform” rating and a $135.00 target price on the stock. Finally, KeyCorp initiated coverage on Darden Restaurants in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $126.08.

Shares of DRI traded up $1.28 during trading hours on Friday, hitting $127.34. The company had a trading volume of 1,061,091 shares, compared to its average volume of 937,882. The company has a market capitalization of $15.52 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.96 and a beta of 0.34. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. Darden Restaurants has a one year low of $95.83 and a one year high of $128.41. The company’s fifty day moving average price is $121.68 and its two-hundred day moving average price is $119.21.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $1.39 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast 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 business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $124.87, for a total transaction of $1,764,163.36. Following the sale, the chief financial officer now owns 23,848 shares in the company, valued at approximately $2,977,899.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David C. George sold 69,779 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $123.25, for a total value of $8,600,261.75. Following the sale, the chief operating officer now owns 109,344 shares in the company, valued at approximately $13,476,648. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,907 shares of company stock worth $11,975,585. Company insiders own 0.47% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Darden Restaurants by 3.9% in the second quarter. Vanguard Group Inc. now owns 14,961,350 shares of the restaurant operator’s stock worth $1,821,245,000 after buying an additional 559,649 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Darden Restaurants by 23.3% in the second quarter. BlackRock Inc. now owns 13,792,587 shares of the restaurant operator’s stock worth $1,678,972,000 after buying an additional 2,605,688 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Darden Restaurants by 2.9% in the second quarter. Bank of America Corp DE now owns 4,926,013 shares of the restaurant operator’s stock worth $599,643,000 after buying an additional 139,204 shares during the last quarter. Newport Trust Co boosted its stake in shares of Darden Restaurants by 0.7% in the second quarter. Newport Trust Co now owns 2,608,233 shares of the restaurant operator’s stock worth $317,500,000 after buying an additional 17,706 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Darden Restaurants by 6.4% in the second quarter. Wells Fargo & Company MN now owns 2,079,677 shares of the restaurant operator’s stock worth $253,159,000 after buying an additional 125,190 shares during the last quarter. Institutional investors and hedge funds 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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