The stock of Darden Restaurants, Inc. (NYSE:DRI) hit a new 52-week high and has $81.50 target or 8.00% above today’s $75.46 share price. The 6 months bullish chart indicates low risk for the $9.34B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $81.50 price target is reached, the company will be worth $747.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.03 million shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has risen 16.07% since April 28, 2016 and is uptrending. It has outperformed by 10.15% the S&P500.
Analysts await Darden Restaurants, Inc. (NYSE:DRI) to report earnings on December, 16. They expect $0.63 EPS, up 16.67% or $0.09 from last year’s $0.54 per share. DRI’s profit will be $77.96M for 29.95 P/E if the $0.63 EPS becomes a reality. After $0.88 actual EPS reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.
Darden Restaurants, Inc. (NYSE:DRI) Ratings Coverage
Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. Darden Restaurants has been the topic of 31 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Sell” rating by Stifel Nicolaus on Tuesday, July 26. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Neutral” rating given on Thursday, October 8 by SunTrust. The rating was downgraded by Raymond James on Friday, January 29 to “Underperform”. Maxim Group maintained Darden Restaurants, Inc. (NYSE:DRI) on Monday, December 21 with “Buy” rating. The firm has “Buy” rating by Maxim Group given on Wednesday, November 11. Oppenheimer maintained Darden Restaurants, Inc. (NYSE:DRI) rating on Thursday, November 12. Oppenheimer has “Outperform” rating and $70.0 price target. The stock has “Market Perform” rating given by Bernstein on Thursday, May 26. Maxim Group initiated it with “Hold” rating and $80 target price in Wednesday, September 30 report. The firm has “Buy” rating given on Friday, July 1 by Maxim Group. The stock has “Hold” rating given by Maxim Group on Monday, November 28.
According to Zacks Investment Research, “Darden Restaurants, Inc. is the world’s largest casual dining restaurant company based on market share, sales and number of company-owned and operated restaurants. Darden through its subsidiaries, engages in the ownership and operation of casual dining restaurants in the United States and Canada.”
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio dived, as 46 funds sold all Darden Restaurants, Inc. shares owned while 172 reduced positions. 56 funds bought stakes while 182 increased positions. They now own 115.09 million shares or 1.22% less from 116.51 million shares in 2016Q1.
Amp Capital Limited owns 129,778 shares or 0.06% of their US portfolio. Assetmark owns 7,207 shares or 0.01% of their US portfolio. Oakworth accumulated 430 shares or 0.01% of the stock. Brick Kyle Assocs accumulated 0.01% or 250 shares. Alpine Woods Capital Invsts Limited Liability has 120,000 shares for 0.45% of their US portfolio. Brown Brothers Harriman & holds 0% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 740 shares. Macquarie Grp Ltd accumulated 0% or 3,357 shares. Apg Asset Nv last reported 0.15% of its portfolio in the stock. Ameritas Investment Prtnrs has invested 0% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). The West Virginia-based Wesbanco State Bank has invested 0.01% in Darden Restaurants, Inc. (NYSE:DRI). Art Limited Liability Corporation, a New York-based fund reported 69,187 shares. The New Jersey-based Blackrock Invest Mgmt Limited Liability has invested 0.02% in Darden Restaurants, Inc. (NYSE:DRI). Prospector Prtn Ltd Liability Co accumulated 0.59% or 55,300 shares. Blackrock Advsr Ltd has invested 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Evercore Trust Company Na holds 0.59% or 2.93 million shares in its portfolio.
Insider Transactions: Since July 7, 2016, the stock had 1 buy, and 1 insider sale for $2.12 million net activity. Shares for $185,100 were bought by FOGARTY JAMES P. 36,907 shares were sold by Kirgan Danielle L., worth $2.31M on Monday, October 10.
More news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Seekingalpha.com, which released: “Darden Restaurants: Strong And Cheap” on November 28, 2016. Forbes.com‘s article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” and published on November 11, 2016 is yet another important article.
DRI Company Profile
Darden Restaurants, Inc., incorporated on March 30, 1995, is a full-service restaurant company. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements.
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