Darden Restaurants (NYSE:DRI) Upgraded at Evercore ISI

Darden Restaurants (NYSE:DRI) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $205.00 target price on the restaurant operator’s stock, up from their prior target price of $165.00. Evercore ISI’s target price would suggest a potential upside of 20.47% from the stock’s previous close.

A number of other equities analysts have also weighed in on DRI. KeyCorp decreased their price target on Darden Restaurants from $177.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, June 13th. Argus decreased their price target on Darden Restaurants from $186.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Stephens reiterated an “equal weight” rating and issued a $159.00 price target on shares of Darden Restaurants in a research report on Thursday. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Darden Restaurants in a research report on Tuesday, September 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $160.00 price target on shares of Darden Restaurants in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.28.

Darden Restaurants Price Performance

NYSE:DRI opened at $170.17 on Friday. The business’s 50-day moving average price is $150.90 and its 200 day moving average price is $153.49. The firm has a market cap of $20.31 billion, a P/E ratio of 19.97, a PEG ratio of 1.76 and a beta of 1.30. Darden Restaurants has a 52-week low of $133.36 and a 52-week high of $176.84. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.61.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.80 billion. Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. Darden Restaurants’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. As a group, sell-side analysts predict that Darden Restaurants will post 9.47 earnings per share for the current fiscal year.

Insider Activity at Darden Restaurants

In related news, insider Melvin John Martin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.09, for a total value of $352,725.00. Following the transaction, the insider now directly owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Sarah H. King sold 15,941 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the transaction, the senior vice president now directly owns 447 shares of the company’s stock, valued at approximately $65,735.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Melvin John Martin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.09, for a total value of $352,725.00. Following the completion of the transaction, the insider now directly owns 11,691 shares in the company, valued at $1,649,483.19. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jump Financial LLC acquired a new stake in shares of Darden Restaurants during the 4th quarter worth approximately $252,000. Norges Bank bought a new stake in Darden Restaurants in the 4th quarter valued at $58,601,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Darden Restaurants by 62.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,255 shares of the restaurant operator’s stock valued at $370,000 after buying an additional 868 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Darden Restaurants by 2.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,874 shares of the restaurant operator’s stock worth $472,000 after acquiring an additional 82 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of Darden Restaurants by 13.5% during the 4th quarter. D.A. Davidson & CO. now owns 2,117 shares of the restaurant operator’s stock valued at $348,000 after acquiring an additional 251 shares in the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

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.