Darden Restaurants (NYSE:DRI) Price Target Raised to $102.00 at KeyCorp

Darden Restaurants (NYSE:DRI) had its price target upped by KeyCorp from $87.00 to $102.00 in a research report released on Thursday, The Fly reports. They currently have a hold rating on the restaurant operator’s stock. KeyCorp also issued estimates for Darden Restaurants’ Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.40 EPS, Q4 2021 earnings at $1.25 EPS, FY2021 earnings at $3.12 EPS and Q2 2022 earnings at $1.08 EPS.

DRI has been the subject of several other reports. Royal Bank of Canada dropped their price objective on shares of Darden Restaurants from $87.00 to $81.00 and set an outperform rating for the company in a research note on Monday, June 22nd. Oppenheimer lifted their target price on Darden Restaurants from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday, May 20th. Bank of America lifted their target price on Darden Restaurants from $75.00 to $85.00 and gave the stock a buy rating in a research report on Friday, June 26th. Loop Capital lifted their target price on Darden Restaurants from $80.00 to $90.00 and gave the stock a buy rating in a research report on Friday, June 26th. Finally, Gordon Haskett downgraded Darden Restaurants from a buy rating to a hold rating and decreased their target price for the stock from $82.00 to $81.00 in a research report on Wednesday, July 1st. Fourteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Darden Restaurants presently has a consensus rating of Buy and an average price target of $91.23.

NYSE DRI opened at $89.97 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.61 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $84.53 and a two-hundred day moving average of $74.50. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of -224.93, a PEG ratio of 2.13 and a beta of 1.34. Darden Restaurants has a 52 week low of $26.15 and a 52 week high of $124.01.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 25th. The restaurant operator reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.64) by $0.40. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. Darden Restaurants’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. Equities research analysts anticipate that Darden Restaurants will post 2.93 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of DRI. New York State Common Retirement Fund boosted its position in Darden Restaurants by 19.4% in the first quarter. New York State Common Retirement Fund now owns 276,200 shares of the restaurant operator’s stock valued at $15,042,000 after buying an additional 44,900 shares during the last quarter. Bartlett & Co. LLC acquired a new position in shares of Darden Restaurants during the 1st quarter worth approximately $54,000. Oppenheimer Asset Management Inc. raised its stake in shares of Darden Restaurants by 133.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,023 shares of the restaurant operator’s stock worth $1,254,000 after buying an additional 13,146 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Darden Restaurants by 329.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 33,727 shares of the restaurant operator’s stock worth $1,837,000 after buying an additional 25,868 shares during the period. Finally, Swiss National Bank raised its stake in shares of Darden Restaurants by 19.4% during the 1st quarter. Swiss National Bank now owns 745,039 shares of the restaurant operator’s stock worth $40,575,000 after buying an additional 120,800 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Darden Restaurants Company Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.

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