Analysts at Longbow Research assumed coverage on shares of Darden Restaurants, Inc. (NYSE:DRI) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating on the restaurant operator’s stock.
Other analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. increased their price objective on Darden Restaurants in a report on Monday, June 26th. Bank of America Corporation set a $80.00 price objective on Darden Restaurants and gave the company a “buy” rating in a report on Monday, June 26th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub downgraded Darden Restaurants from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, ValuEngine upgraded Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $87.82.
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, meeting the Zacks’ consensus estimate of $0.99. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. Darden Restaurants’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share.
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A number of institutional investors have recently modified their holdings of the business. Fulton Bank N.A. grew its holdings in Darden Restaurants by 22.4% during the 3rd quarter. Fulton Bank N.A. now owns 3,936 shares of the restaurant operator’s stock worth $310,000 after acquiring an additional 720 shares during the period. USA Financial Portformulas Corp acquired a new stake in Darden Restaurants during the 2nd quarter worth about $3,811,000. Toronto Dominion Bank grew its holdings in Darden Restaurants by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock worth $3,808,000 after acquiring an additional 8,694 shares during the period. Archford Capital Strategies LLC grew its holdings in Darden Restaurants by 9,550.4% during the 2nd quarter. Archford Capital Strategies LLC now owns 12,449 shares of the restaurant operator’s stock worth $731,000 after acquiring an additional 12,320 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Darden Restaurants during the 2nd quarter worth about $349,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.
About Darden Restaurants
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).
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