Bank of America Securities Sticks to Its Buy Rating for Darden (DRI)

Bank of America Securities analyst Sara Senatore reiterated a Buy rating on Darden (DRIResearch Report) today and set a price target of $187.00. The company’s shares closed last Friday at $166.01.

Senatore covers the Consumer Cyclical sector, focusing on stocks such as Domino’s Pizza, Starbucks, and Chipotle. According to TipRanks, Senatore has an average return of 11.6% and a 62.73% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Darden with a $170.43 average price target, which is a 2.66% upside from current levels. In a report released on June 16, Barclays also initiated coverage with a Buy rating on the stock with a $173.00 price target.

See today’s best-performing stocks on TipRanks >>

Based on Darden’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $2.79 billion and a net profit of $286.6 million. In comparison, last year the company earned a revenue of $2.6 billion and had a net profit of $281.7 million

Based on the recent corporate insider activity of 69 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 March 2023, Eugene Lee, a Director at DRI sold 78,916.00 shares for a total of $12,147,722.93.

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.

Read More on DRI:

source

(Visited 2 times, 1 visits today)