Sanford C. Bernstein Increases Darden Restaurants (DRI) Price Target to $99.00

Darden Restaurants (NYSE:DRI) had its price objective raised by Sanford C. Bernstein from $91.00 to $99.00 in a note issued to investors on Wednesday. The firm currently has a “market perform” rating on the restaurant operator’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 4.14% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Jefferies Group boosted their price objective on Darden Restaurants from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday. BMO Capital Markets set a $101.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a research report on Tuesday. Credit Suisse Group reissued a “market perform” rating and issued a $90.00 price objective (up previously from $82.00) on shares of Darden Restaurants in a research report on Wednesday. They noted that the move was a valuation call. Maxim Group reissued a “buy” rating and issued a $103.00 price objective (up previously from $93.00) on shares of Darden Restaurants in a research report on Wednesday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $104.00 price objective (up previously from $94.00) on shares of Darden Restaurants in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.05.

Darden Restaurants (DRI) opened at $95.06 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.24. Darden Restaurants has a 1 year low of $71.01 and a 1 year high of $98.29. The firm has a market capitalization of $11,957.97, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.10 and a beta of 0.22.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. equities analysts expect that Darden Restaurants will post 4.47 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in Darden Restaurants by 9.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,218 shares of the restaurant operator’s stock worth $834,000 after purchasing an additional 759 shares in the last quarter. Legal & General Group Plc lifted its holdings in Darden Restaurants by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 706,136 shares of the restaurant operator’s stock worth $63,883,000 after purchasing an additional 73,554 shares in the last quarter. Comerica Bank lifted its holdings in Darden Restaurants by 1.2% during the 2nd quarter. Comerica Bank now owns 40,082 shares of the restaurant operator’s stock worth $3,472,000 after purchasing an additional 475 shares in the last quarter. BB&T Securities LLC lifted its holdings in Darden Restaurants by 0.3% during the 2nd quarter. BB&T Securities LLC now owns 35,622 shares of the restaurant operator’s stock worth $3,221,000 after purchasing an additional 90 shares in the last quarter. Finally, Columbus Circle Investors lifted its holdings in Darden Restaurants by 3.2% during the 2nd quarter. Columbus Circle Investors now owns 140,465 shares of the restaurant operator’s stock worth $12,704,000 after purchasing an additional 4,340 shares in the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

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Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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