Telsey Advisory Group Reaffirms “” Rating for Darden Restaurants (DRI)
Darden Restaurants (NYSE:DRI)‘s stock had its “” rating restated by stock analysts at Telsey Advisory Group in a report issued on Tuesday. They currently have a $45.00 price target on the stock. Telsey Advisory Group’s price target indicates a potential downside of 5.76% from the company’s current price.
Shares of Darden Restaurants (NYSE:DRI) traded up 0.91% during mid-day trading on Tuesday, hitting $47.75. The stock had a trading volume of 2,276,643 shares. Darden Restaurants has a 52 week low of $43.56 and a 52 week high of $54.89. The stock has a 50-day moving average of $46.19 and a 200-day moving average of $48.53. The company has a market cap of $6.318 billion and a price-to-earnings ratio of 21.98. Darden Restaurants also saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 15,232,792 shares, a growth of 27.8% from the July 31st total of 11,916,846 shares. Based on an average daily volume of 1,862,569 shares, the short-interest ratio is currently 8.2 days. Currently, 11.6% of the shares of the stock are short sold.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Friday, June 20th. The company reported $0.65 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.94 by $0.29. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company posted $1.01 earnings per share. Darden Restaurants’s revenue was up .9% compared to the same quarter last year. Analysts expect that Darden Restaurants will post $2.22 EPS for the current fiscal year.
A number of other firms have also recently commented on DRI. Analysts at Bank of America downgraded shares of Darden Restaurants to an “underperform” rating in a research note on Thursday, August 28th. Separately, analysts at Goldman Sachs initiated coverage on shares of Darden Restaurants in a research note on Monday, August 11th. They set a $500.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Darden Restaurants from $49.00 to $44.00 in a research note on Tuesday, July 29th. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Darden Restaurants has an average rating of “Hold” and an average target price of $76.71.
Darden Restaurants, Inc is full service restaurant company. The Company owns and operates more than 1,500 restaurants.
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