November 28, 2016 - By Michael Collier
Maxim Group gave Darden Restaurants (NYSE:DRI) shares a new Hold rating in a a research note issued to investors and clients on Monday, 28 November. This is decrease from the old Buy rating.
Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 9 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 56% are positive. $80 is the highest target while $50 is the lowest. The $70.50 average target is -5.14% below today’s ($74.32) stock price. Darden Restaurants has been the topic of 29 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating by Wells Fargo given on Wednesday, July 13. Tigress Financial upgraded the shares of DRI in a report on Friday, June 24 to “Buy” rating. Citigroup maintained Darden Restaurants, Inc. (NYSE:DRI) on Monday, April 18 with “Buy” rating. The firm has “Sell” rating given on Tuesday, July 26 by Stifel Nicolaus. The company was downgraded on Friday, January 29 by Raymond James. BTIG Research maintained Darden Restaurants, Inc. (NYSE:DRI) rating on Wednesday, April 6. BTIG Research has “Buy” rating and $75 price target. Maxim Group upgraded Darden Restaurants, Inc. (NYSE:DRI) rating on Monday, October 19. Maxim Group has “Buy” rating and $80 price target. On Monday, December 21 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Bernstein initiated the shares of DRI in a report on Thursday, May 26 with “Market Perform” rating. The rating was maintained by Maxim Group on Monday, December 21 with “Buy”.
About 450,107 shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has risen 18.11% since April 25, 2016 and is uptrending. It has outperformed by 12.09% the S&P500.
Analysts await Darden Restaurants, Inc. (NYSE:DRI) to report earnings on December, 16. They expect $0.63 earnings per share, up 16.67% or $0.09 from last year’s $0.54 per share. DRI’s profit will be $77.99M for 29.49 P/E if the $0.63 EPS becomes a reality. After $0.88 actual earnings per share reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio fall, as 46 funds sold all Darden Restaurants, Inc. shares owned while 172 reduced positions. 56 funds bought stakes while 182 increased positions. They now own 115.09 million shares or 1.22% less from 116.51 million shares in 2016Q1.
Vantage Advisors Limited Liability Corporation, a Pennsylvania-based fund reported 80 shares. Moreover, Pinebridge L P has 0.13% invested in Darden Restaurants, Inc. (NYSE:DRI) for 38,475 shares. Moreover, Buckingham Cap has 0.21% invested in Darden Restaurants, Inc. (NYSE:DRI) for 12,358 shares. Bluemountain Cap Mgmt Ltd Liability has 29,475 shares for 0.04% of their US portfolio. Cap Fund Management holds 0.1% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 172,551 shares. Prudential Pcl owns 8,316 shares or 0% of their US portfolio. The Germany-based Commerzbank Aktiengesellschaft Fi has invested 0% in Darden Restaurants, Inc. (NYSE:DRI). Brandywine Glob Mgmt Lc, a Pennsylvania-based fund reported 68 shares. Moreover, Juncture Wealth Strategies Ltd Llc has 0.7% invested in Darden Restaurants, Inc. (NYSE:DRI) for 15,600 shares. First Interstate Comml Bank holds 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 750 shares. Kings Point Cap Mngmt accumulated 766 shares or 0.01% of the stock. Virginia Retirement Systems Et Al holds 0.24% or 252,800 shares in its portfolio. Moreover, Earnest Llc has 0.58% invested in Darden Restaurants, Inc. (NYSE:DRI) for 840,696 shares. Liberty Mutual Asset Mngmt has 15,480 shares for 0.04% of their US portfolio. Tiaa Cref Ltd reported 588,425 shares or 0.03% of all its holdings.
Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 sale for $2.12 million net activity. Kirgan Danielle L. sold 36,907 shares worth $2.31M. On Thursday, July 7 the insider FOGARTY JAMES P bought $185,100.
Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $9.20 billion. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. It has a 24.46 P/E ratio. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining ) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
According to Zacks Investment Research, “Darden Restaurants, Inc. is the world’s largest casual dining restaurant company based on market share, sales and number of company-owned and operated restaurants. Darden through its subsidiaries, engages in the ownership and operation of casual dining restaurants in the United States and Canada.”
Darden Restaurants, Inc., incorporated on March 30, 1995, is a full-service restaurant company. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s divisions 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). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements.
More news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Prnewswire.com, which released: “Restaurants Stocks Under Scanner — Darden Restaurants, Dunkin’ Brands …” on November 28, 2016. Forbes.com‘s article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” and published on November 11, 2016 is yet another important article.
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