Darden Restaurants (DRI) was Upgraded by Piper Jaffray to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 78 from a previous price target of $67 . Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on May 17, 2016.
Many Wall Street Analysts have commented on Darden Restaurants. Shares were Reiterated by Maxim Group on Apr 6, 2016 to “Buy” and Lowered the Price Target to $ 77 from a previous price target of $79 .Shares were Reiterated by Barclays on Apr 6, 2016 to “Overweight” and Lowered the Price Target to $ 80 from a previous price target of $81 .Company shares were Reiterated by Maxim Group on Mar 11, 2016 to “Buy”, Firm has raised the Price Target to $ 79 from a previous price target of $70 .
On the company’s financial health, Darden Restaurants reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 5, 2016. Analyst had a consensus of $1.20. The company had revenue of $1847.50 million for the quarter, compared to analysts expectations of $1845.88 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.
Darden Restaurants closed down -0.03 points or -0.05% at $63.28 with 15,29,917 shares getting traded on Monday. Post opening the session at $63.12, the shares hit an intraday low of $62.74 and an intraday high of $63.43 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 20, 2016, Alan N Stillman (director) sold 2,000 shares at $65.30 per share price. According to the SEC, on Mar 14, 2016, Jeffrey C Smith (director) sold 370,566 shares at $67.69 per share price. On Dec 23, 2015, David C George (President, Olive Garden) sold 40,008 shares at $63.78 per share price, according to the Form-4 filing with the securities and exchange commission.
Darden Restaurants Inc. is a full service restaurant company. The Company owns and operates more than 1500 restaurants. The Company’s restaurant brands include Olive Garden LongHorn Steakhouse Bahama Breeze Seasons 52 The Capital Grille Eddie V’s Prime Seafood Wildfish Seafood Grill and Yard House. Through subsidiaries the Company owns and operates all of its restaurants in the United States and Canada except for three restaurants located in Florida and three restaurants in California which are owned jointly by the Company and third parties and managed by the Company seven franchised restaurants in Puerto Rico and one Atlanta Georgia airport location.