Rating Watching: Credit Suisse Gives Darden Restaurants Inc (NYSE:DRI) Lower Rating. What Is Next?

November 30, 2016 - By Nellie Frank

Rating Watching: Credit Suisse Gives Darden Restaurants Inc (NYSE:DRI) Lower Rating. What Is Next?

Darden Restaurants Inc (NYSE:DRI) Downgrade

Darden Restaurants Inc (NYSE:DRI) was lowered by expert analysts at Credit Suisse from a “Outperform” rating to a “Neutral” rating in a note issued to clients and investors on Tuesday morning.

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. $80 is the highest target while $50 is the lowest. The $70.50 average target is -3.27% below today’s ($72.88) stock price. Darden Restaurants has been the topic of 31 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Maxim Group given on Monday, November 28. The rating was initiated by Suntrust Robinson with “Neutral” on Thursday, October 8. Maxim Group maintained the stock with “Buy” rating in Tuesday, February 16 report. The stock has “Overweight” rating given by Barclays Capital on Wednesday, April 6. The firm has “Market Perform” rating by Raymond James given on Monday, October 12. The firm has “Sell” rating given on Monday, October 3 by Stifel Nicolaus. As per Monday, October 19, the company rating was upgraded by Maxim Group. The firm has “Mkt Perform” rating given on Tuesday, October 18 by Raymond James. Credit Suisse maintained Darden Restaurants, Inc. (NYSE:DRI) on Friday, November 13 with “Outperform” rating. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, December 21 report.

The stock decreased 1.42% or $1.05 during the last trading session, hitting $72.88. Darden Restaurants, Inc. (NYSE:DRI) has risen 14.52% since April 27, 2016 and is uptrending. It has outperformed by 9.29% 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 $76.50M for 28.92 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 2016 Q2. 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.

Utah Retirement System reported 21,189 shares or 0.04% of all its holdings. Cambridge Rech Advsr accumulated 0.01% or 9,635 shares. Moreover, Clearbridge Ltd has 0% invested in Darden Restaurants, Inc. (NYSE:DRI) for 7,640 shares. Ruggie Gru has 0.01% invested in the company for 95 shares. First City Capital Mngmt last reported 0.36% of its portfolio in the stock. Citizens Northern Corporation, a Pennsylvania-based fund reported 5,465 shares. First Mercantile Trust holds 0.13% or 16,250 shares in its portfolio. Prospector Partners Ltd Company holds 55,300 shares or 0.59% of its portfolio. Amer Gp Incorporated holds 0% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 47,794 shares. Comerica State Bank holds 26,296 shares or 0.01% of its portfolio. Moreover, Prudential Public Ltd Com has 0% invested in Darden Restaurants, Inc. (NYSE:DRI) for 8,316 shares. Grantham Mayo Van Otterloo Co Limited Liability holds 0% or 15,800 shares in its portfolio. The North Carolina-based Retail Bank Of America De has invested 0.02% in Darden Restaurants, Inc. (NYSE:DRI). The Maryland-based Montgomery has invested 0.15% in Darden Restaurants, Inc. (NYSE:DRI). Susquehanna Intll Group Llp holds 0% or 62,800 shares in its portfolio.

Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 sale for $2.12 million net activity. $185,100 worth of Darden Restaurants, Inc. (NYSE:DRI) was bought by FOGARTY JAMES P. Kirgan Danielle L. had sold 36,907 shares worth $2.31M.

Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $8.85 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 23.99 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.

Another recent and important Darden Restaurants, Inc. (NYSE:DRI) news was published by Forbes.com which published an article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” on November 11, 2016.

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