Rating Summary: Is Darden Restaurants (NYSE:DRI) Worth Your Time After Placed Credit Suisse’s Downgrade?

November 29, 2016 - By Winifred Garcia

Rating Summary: Is Darden Restaurants (NYSE:DRI) Worth Your Time After Placed Credit Suisse's Downgrade?

Darden Restaurants (NYSE:DRI) Downgrade

Darden Restaurants (NYSE:DRI)‘s “Outperform” rating is no longer valid. research professionals at Credit Suisse lowered Darden Restaurants (NYSE:DRI)‘s rating to a “Neutral”.

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

Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 8 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 50% are positive. $80 is the highest target while $50 is the lowest. The $70.50 average target is -3.05% below today’s ($72.72) stock price. Darden Restaurants has been the topic of 30 analyst reports since August 25, 2015 according to StockzIntelligence Inc. On Tuesday, August 25 the stock rating was downgraded by Zacks to “Strong-Buy”. The firm has “Buy” rating by Maxim Group given on Wednesday, November 11. Wells Fargo downgraded the shares of DRI in a report on Wednesday, July 13 to “Underperform” rating. Credit Suisse maintained the stock with “Outperform” rating in Friday, November 13 report. The stock has “Sell” rating given by Stifel Nicolaus on Monday, October 3. Tigress Financial upgraded the shares of DRI in a report on Friday, June 24 to “Buy” rating. The stock has “Market Perform” rating given by Raymond James on Monday, October 12. The firm earned “Outperform” rating on Thursday, November 12 by Oppenheimer. The stock has “Hold” rating given by Maxim Group on Wednesday, September 30. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Buy” rating given on Friday, July 1 by Maxim Group.

About 504,239 shares traded hands. Darden Restaurants, Inc. (NYSE: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 $76.48 million for 28.87 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 is negative, 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.

Cadence Retail Bank Na, a Texas-based fund reported 21,471 shares. Susquehanna Intll Grp Ltd Liability Partnership holds 0% or 62,800 shares in its portfolio. Jag Cap Mngmt Ltd Com holds 1.9% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 151,963 shares. First Manhattan, a New York-based fund reported 2,679 shares. Next Fincl Gp Inc Inc accumulated 500 shares or 0.01% of the stock. Legal And General Grp Inc Public Ltd holds 0.04% or 629,902 shares in its portfolio. Farmers Tru Com holds 11,168 shares or 0.23% of its portfolio. Meeder Asset has 0.1% invested in the company for 17,677 shares. Moreover, Beacon Co has 0.47% invested in Darden Restaurants, Inc. (NYSE:DRI) for 40,511 shares. Hl Fincl Services Limited Liability Company last reported 0.01% of its portfolio in the stock. Shell Asset Management has 0.08% invested in the company for 54,130 shares. Kcg Holding holds 27,976 shares or 0.04% of its portfolio. Moreover, Rothschild Inv Il has 0.04% invested in Darden Restaurants, Inc. (NYSE:DRI) for 5,120 shares. Cibc World Inc has invested 0.02% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Citizens Northern Corporation last reported 0.27% of its portfolio in the stock.

Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 insider sale for $2.12 million net activity. Shares for $2.31 million were sold by Kirgan Danielle L.. Shares for $185,100 were bought by FOGARTY JAMES P on Thursday, July 7.

Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $8.83 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 23.94 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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