Darden Restaurants (NYSE:DRI) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Darden Restaurants (NYSE:DRI - Get Free Report) had its price objective boosted by research analysts at BMO Capital Markets from $190.00 to $215.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the restaurant operator's stock. BMO Capital Markets' price objective suggests a potential downside of 1.05% from the stock's previous close.

DRI has been the topic of a number of other reports. TD Securities reaffirmed a "hold" rating and issued a $215.00 price target on shares of Darden Restaurants in a research note on Friday, June 20th. Robert W. Baird raised their target price on Darden Restaurants from $218.00 to $230.00 and gave the stock a "neutral" rating in a research note on Monday. Evercore ISI upped their price target on Darden Restaurants from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Stifel Nicolaus lifted their price objective on Darden Restaurants from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, Citigroup boosted their target price on Darden Restaurants from $245.00 to $253.00 and gave the company a "buy" rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $222.69.

Darden Restaurants Price Performance

NYSE DRI traded down $3.56 on Wednesday, reaching $217.28. 557,961 shares of the company's stock traded hands, compared to its average volume of 1,369,674. Darden Restaurants has a 12 month low of $135.87 and a 12 month high of $228.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.42 and a quick ratio of 0.28. The stock has a 50-day simple moving average of $209.20 and a 200 day simple moving average of $196.84. The stock has a market cap of $25.43 billion, a PE ratio of 24.47, a P/E/G ratio of 2.22 and a beta of 0.75.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The restaurant operator reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.01. The company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.25 billion. Darden Restaurants had a net margin of 8.69% and a return on equity of 51.81%. The firm's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 EPS. As a group, research analysts predict that Darden Restaurants will post 9.52 earnings per share for the current year.

Darden Restaurants declared that its board has initiated a stock repurchase program on Friday, June 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the restaurant operator to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of Darden Restaurants

Institutional investors have recently bought and sold shares of the company. TCTC Holdings LLC bought a new stake in shares of Darden Restaurants during the fourth quarter valued at approximately $28,000. Grove Bank & Trust lifted its holdings in shares of Darden Restaurants by 171.4% during the first quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator's stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. ORG Partners LLC boosted its position in shares of Darden Restaurants by 108.8% during the first quarter. ORG Partners LLC now owns 142 shares of the restaurant operator's stock valued at $30,000 after buying an additional 74 shares during the last quarter. Centennial Bank AR bought a new stake in Darden Restaurants in the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management purchased a new position in Darden Restaurants in the 1st quarter worth about $34,000. 93.64% of the stock is owned by hedge funds and other institutional investors.

About Darden Restaurants

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.

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