Analysts at Zacks Investment Research downgraded shares of Darden Restaurants Inc. (NYSE: DRI) from Hold to Sell in a research note to investors today. Zacks Investment Research currently has a rating of Sell on the shares. The one-year price target of $69.22 is higher than the opening price of $61.70, that has caused a number of other analysts to report on the company recently. Looking back over the last 52 weeks, Darden Restaurants Inc. stock has a high of $72.11. Material and crucial digressions in the company’s actions, future ision or industry can cause downgrades as the analysts believe that the future prospects for the security have diminished from the original recommendation.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Darden Restaurants Inc. (NYSE: DRI) opened at $61.70 yesterday trading between $61.31 and $61.91, and last traded at $61.48, an increase of $0.09 over the previous closing price.
Darden Restaurants Inc. (NYSE: DRI) now has a market cap of 7.76B.
The stock’s average daily volume is 2,029,180 shares out of a total float 125,945,000 and some 818,711 shares crossed the trading desk yesterday, 23 percent below the average. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify large volume accumulation or circulation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Darden Restaurants Inc. (NYSE: DRI) have ranged from $53.38 – 72.11, and the stock now has a 50-day MA of $62.00 and 200-day MA of $64.21. Today’s last price is 0.15% below the 52 week high of $72.11.
Earnings growth is a critical factor to research when buying stocks and investors seek companies that have increased their earnings at least 25% or more over a 3 year period.
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