Rating Action: What To Expect After Darden Restaurants (DRI)’s Downgrade Rating From Credit Suisse?

November 29, 2016 - By Vivian Park

Rating Action: What To Expect After Darden Restaurants (DRI)'s Downgrade Rating From Credit Suisse?

Darden Restaurants (DRI) Downgrade

Credit Suisse cut the shares of Darden Restaurants (DRI) from a Outperform rating to a Neutral rating in a analysts note revealed to clients and investors on Tuesday, 29 November.

Darden Restaurants, Inc. (NYSE:DRI) Ratings Coverage

Out of 3 analysts covering Darden Restaurants (DRI), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. $74.0 is the highest target while $50.0 is the lowest. The $62 average target is -14.21% below today’s ($72.27) stock price. Darden Restaurants has been the topic of 3 analyst reports since October 3, 2016 according to StockzIntelligence Inc. On Monday, October 3 the stock rating was maintained by Stifel Nicolaus with “Sell”. Raymond James upgraded the shares of DRI in a report on Tuesday, October 18 to “Mkt Perform” rating. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Hold” rating by Maxim Group on Monday, November 28.

About 855,084 shares traded hands. Darden Restaurants, Inc. (DRI) has risen 15.77% since April 26, 2016 and is uptrending. It has outperformed by 10.51% the S&P500.

Analysts await Darden Restaurants, Inc. (NYSE:DRI) to report earnings on December, 16. They expect $0.63 earnings per share, up 16.67% or $0.09 from last year’s $0.54 per share. DRI’s profit will be $76.46M for 28.67 P/E if the $0.63 EPS becomes a reality. After $0.88 actual earnings per share reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio dropped, 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.

Starboard Value Lp holds 8.72% or 3.89M shares in its portfolio. Palo last reported 10,220 shares in the company. Moreover, Point72 Asset Management Ltd Partnership has 0.06% invested in Darden Restaurants, Inc. (NYSE:DRI) for 142,700 shares. Natl Pension Serv has 96 shares for 0% of their US portfolio. First Bancorporation Na holds 0.62% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 50,800 shares. Credit Suisse Ag last reported 0.04% of its portfolio in the stock. Piedmont Inv Advsrs Ltd Liability Corp has invested 0% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Teachers Retirement Of The State Of Kentucky has 0.01% invested in the company for 15,100 shares. Utah Retirement reported 21,189 shares or 0.04% of all its holdings. Proshare Advsr Ltd Llc has 28,729 shares for 0.02% of their US portfolio. Raymond James Na accumulated 8,300 shares or 0.04% of the stock. First Mercantile Co accumulated 16,250 shares or 0.13% of the stock. Cypress Cap Mngmt Ltd Liability (Wy) holds 2,717 shares or 0% of its portfolio. The Louisiana-based Louisiana State Employees Retirement System has invested 0.02% in Darden Restaurants, Inc. (NYSE:DRI). Ledyard Financial Bank last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 7, 2016, the stock had 1 insider purchase, and 1 sale for $2.12 million net activity. Kirgan Danielle L. sold 36,907 shares worth $2.31M. Another trade for 3,000 shares valued at $185,100 was bought by FOGARTY JAMES P.

Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $8.77 billion. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. It has a 23.79 P/E ratio. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining ) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

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.”

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.

More news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Forbes.com, which released: “Short Interest In Darden Restaurants Makes 12.7% Move” on November 11, 2016. Prnewswire.com‘s article titled: “Restaurants Stocks Under Scanner — Darden Restaurants, Dunkin’ Brands …” and published on November 28, 2016 is yet another important article.

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