Wedbush analyst Nick Setyan downgraded Darden (DRI) to Hold today and set a price target of $95.00. The company’s shares closed last Friday at $89.97.
According to TipRanks.com, Setyan is a 4-star analyst with an average return of 4.9% and a 55.3% success rate. Setyan covers the Services sector, focusing on stocks such as Papa John’s International, Del Taco Restaurants, and Dine Brands Global.
Darden has an analyst consensus of Moderate Buy, with a price target consensus of $92.00, representing a 1.0% upside. In a report issued on September 18, Robert W. Baird also maintained a Hold rating on the stock with a $97.00 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 $1.27 billion and GAAP net loss of $480 million. In comparison, last year the company earned revenue of $2.23 billion and had a net profit of $208 million.
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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.
