Darden Restaurants (NYSE:DRI) Upgraded to “Buy” by StockNews.com

Darden Restaurants (NYSE:DRIGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other analysts have also recently commented on the stock. Stephens decreased their price objective on shares of Darden Restaurants from $176.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, March 25th. Morgan Stanley decreased their price objective on shares of Darden Restaurants from $171.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday, March 25th. BMO Capital Markets decreased their price objective on shares of Darden Restaurants from $155.00 to $140.00 in a research note on Friday, March 25th. Royal Bank of Canada decreased their price objective on shares of Darden Restaurants from $153.00 to $151.00 and set an “outperform” rating for the company in a research note on Friday, March 25th. Finally, Oppenheimer decreased their price objective on shares of Darden Restaurants from $185.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, March 18th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Darden Restaurants currently has a consensus rating of “Buy” and an average price target of $162.05.

DRI stock traded up $4.97 during trading on Thursday, reaching $125.09. The company had a trading volume of 894,379 shares, compared to its average volume of 1,274,502. The firm has a 50-day simple moving average of $128.96 and a 200-day simple moving average of $137.75. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.57 and a current ratio of 0.70. Darden Restaurants has a twelve month low of $111.57 and a twelve month high of $164.28.

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

In related news, Director Juliana L. Chugg purchased 1,925 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was bought at an average price of $129.01 per share, with a total value of $248,344.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.95% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in DRI. Capital World Investors boosted its stake in Darden Restaurants by 18.4% during the 3rd quarter. Capital World Investors now owns 16,013,391 shares of the restaurant operator’s stock worth $2,425,548,000 after purchasing an additional 2,493,801 shares during the last quarter. Capital International Investors boosted its position in shares of Darden Restaurants by 5.7% during the 1st quarter. Capital International Investors now owns 15,832,043 shares of the restaurant operator’s stock valued at $2,104,832,000 after acquiring an additional 857,052 shares during the last quarter. Norges Bank acquired a new position in shares of Darden Restaurants during the 4th quarter valued at about $105,979,000. Ardevora Asset Management LLP acquired a new position in shares of Darden Restaurants during the 1st quarter valued at about $61,582,000. Finally, Capital Research Global Investors boosted its position in shares of Darden Restaurants by 41.2% during the 4th quarter. Capital Research Global Investors now owns 1,426,520 shares of the restaurant operator’s stock valued at $214,886,000 after acquiring an additional 416,048 shares during the last quarter. 90.71% of the stock is currently owned by institutional investors.

Darden Restaurants Company Profile (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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