In a report released yesterday, Jeff Bernstein from Barclays maintained a Buy rating on Darden (DRI), with a price target of $130. The company’s shares opened today at $121.23, close to its 52-week high of $125.33.
According to TipRanks.com, Bernstein is a 5-star analyst with an average return of 8.9% and a 72.5% success rate. Bernstein covers the Services sector, focusing on stocks such as Restaurant Brands International, Jack In The Box Inc, and Cheesecake Factory.
Currently, the analyst consensus on Darden is a Moderate Buy with an average price target of $128, a 5.6% upside from current levels. In a report issued on June 11, Evercore ISI also initiated coverage with a Buy rating on the stock with a $135 price target.
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Based on Darden’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $208 million. In comparison, last year the company had a net profit of $175 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Eugene Lee, the President & CEO of DRI sold 73,152 shares for a total of $8,676,559.
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Darden Restaurants, Inc. engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.
