Morgan Stanley analyst Brian Nowak maintained a Buy rating on Darden (DRI – Research Report) today and set a price target of $168.00. The company’s shares opened today at $149.69.
According to TipRanks, Nowak is a 4-star analyst with an average return of 2.4% and a 56.05% success rate. Nowak covers the Technology sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Pinterest.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Darden with a $154.83 average price target, which is a 3.43% upside from current levels. In a report released today, J.P. Morgan also maintained a Buy rating on the stock with a $154.00 price target.
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DRI market cap is currently $18.14B and has a P/E ratio of 20.55.
Based on the recent corporate insider activity of 60 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 October 2022, Kiernan Daniel J., the President of DRI sold 10,290.00 shares for a total of $1,445,939.16.
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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.
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