Darden Restaurants (NYSE:DRI) Stock Price Expected to Rise, Oppenheimer Analyst Says

Darden Restaurants (NYSE:DRI - Get Free Report) had its price target hoisted by Oppenheimer from $200.00 to $218.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Oppenheimer's price target would suggest a potential upside of 18.09% from the company's previous close.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Darden Restaurants from $180.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Evercore ISI upgraded Darden Restaurants from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $165.00 to $205.00 in a research report on Friday, September 20th. KeyCorp increased their target price on Darden Restaurants from $194.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Wedbush lifted their price target on Darden Restaurants from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Finally, Morgan Stanley increased their price objective on shares of Darden Restaurants from $193.00 to $209.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $189.12.

Darden Restaurants Price Performance

Shares of DRI stock traded up $0.64 during mid-day trading on Tuesday, reaching $184.60. The company's stock had a trading volume of 1,145,571 shares, compared to its average volume of 1,204,568. The firm's 50-day moving average is $172.75 and its two-hundred day moving average is $160.41. The company has a market cap of $21.69 billion, a P/E ratio of 21.29, a PEG ratio of 1.90 and a beta of 1.31. Darden Restaurants has a 1-year low of $135.87 and a 1-year high of $189.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.22 and a current ratio of 0.35.

Darden Restaurants (NYSE:DRI - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, meeting analysts' consensus estimates of $2.03. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.87 billion. Darden Restaurants had a return on equity of 49.46% and a net margin of 9.11%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 earnings per share. On average, research analysts predict that Darden Restaurants will post 9.47 earnings per share for the current year.

Insider Buying and Selling at Darden Restaurants

In related news, CFO Rajesh Vennam sold 7,228 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the completion of the transaction, the chief financial officer now owns 10,262 shares in the company, valued at approximately $1,864,708.02. This represents a 41.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On Darden Restaurants

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in Darden Restaurants by 9.8% in the third quarter. Farther Finance Advisors LLC now owns 697 shares of the restaurant operator's stock valued at $114,000 after acquiring an additional 62 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Darden Restaurants by 11.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 676 shares of the restaurant operator's stock valued at $111,000 after purchasing an additional 69 shares during the last quarter. Metis Global Partners LLC grew its holdings in Darden Restaurants by 1.9% during the third quarter. Metis Global Partners LLC now owns 3,833 shares of the restaurant operator's stock worth $629,000 after purchasing an additional 73 shares during the period. EP Wealth Advisors LLC increased its position in Darden Restaurants by 5.6% during the second quarter. EP Wealth Advisors LLC now owns 1,418 shares of the restaurant operator's stock worth $215,000 after buying an additional 75 shares during the last quarter. Finally, 1620 Investment Advisors Inc. raised its stake in Darden Restaurants by 4.4% in the third quarter. 1620 Investment Advisors Inc. now owns 1,835 shares of the restaurant operator's stock valued at $301,000 after buying an additional 78 shares during the period. 93.64% of the stock is owned by institutional investors.

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.