Darden (DRI) Receives a Hold from BTIG

By Jason Carr

BTIG analyst Peter Saleh maintained a Hold rating on Darden (DRIResearch Report) on June 24. The company’s shares closed last Friday at $144.11, close to its 52-week high of $149.73.

According to TipRanks.com, Saleh is a 5-star analyst with an average return of 24.5% and a 78.5% success rate. Saleh covers the Services sector, focusing on stocks such as Papa John’s International, Texas Roadhouse, and Domino’s Pizza.

Darden has an analyst consensus of Strong Buy, with a price target consensus of $162.68, which is a 14.9% upside from current levels. In a report issued on June 16, Wedbush also maintained a Hold rating on the stock with a $150.00 price target.

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Based on Darden’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $2.28 billion and net profit of $369 million. In comparison, last year the company earned revenue of $1.27 billion and had a GAAP net loss of $480 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DRI in relation to earlier this year. Most recently, in April 2021, Cardenas Ricardo, the President & COO of DRI sold 13,000 shares for a total of $1,911,520.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Darden Restaurants, Inc. is a full-service restaurant company, which 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. The LongHorn Steakhouse segment includes the results of the company-owned LongHorn Steakhouse restaurants. The Fine Dining segment comprises of the premium brands that operate within the fine-dining sub-segment of full-service dining and includes the results of its company-owned The Capital Grille and Eddie V’s restaurants. The Other Business segment aggregates the remaining brands and includes the results of its company-owned Cheddar’s Scratch Kitchen, Yard House, Seasons 52 and Bahama Breeze restaurants; and from franchises and consumer-packaged goods sales. The company was founded by William B. Darden in 1938 and is headquartered in Orlando, FL.