12/30/2023 0 Comments Keep trade cut![]() ![]() ![]() TipRanks has a Strong Buy rating on Darden based on 16 Buys, and four Holds assigned in the past three months from Wall Street analysts. My takeaway? Investors may wish to consider taking a stake, or steak (pun intended), in the name, even at these heights. Is Darden more of a discretionary-centered restaurant play? Sure, but it's not hard to imagine the strong brands taking share in the higher-end space. That's also impressive, given our current position in the market cycle.Īt 20.5 times trailing price-to-earnings, shares of DRI are still below the restaurant industry average of 32.75 times. Looking ahead, Darden expects same-store sales growth to stay in the 2.5%-3.5% range. That's impressive, especially considering all the recession chatter we encountered last year. If a downturn never materializes, many analysts expect Darden to climb even higher, thanks to its powerful dine-in restaurant brands.įor Fiscal 2023, sales rose almost 9%, while earnings per share surged just north of 8%. The stock performance doesn't indicate a looming recession. Over the past year, shares of DRI are up a stellar 41.3%, bringing the stock to a new high of $164 and change. As a result, I'm staying bullish.Ĭlearly, there's an appetite to go out to eat. Despite macro headwinds and recession fears, though, Darden stock has held its own incredibly well. The company is behind many up- and mid-scale restaurant chains, including Ruth's Chris Steakhouse on the high-end and Olive Garden on the casual side. Darden ( NYSE:DRI)ĭarden isn't exactly the type of restaurant play you'd want to jump into in the face of a potential economic downturn. Therefore, let's check in with TipRanks' Comparison Tool to see where analysts stand on three Strong-Buy-rated restaurant plays in the early innings of the second half. ![]()
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