Benzinga | Aug 19, 2020 02:47PM EDT

Why Darden's Stock Is Trading Lower Today

Darden Restaurants (NYSE:DRI) shares are trading lower on Wednesday after Stifel Downgraded the stock from Buy to Hold and announced a price target of $87 per share.

Darden is one of the largest players in the $185 billion U.S. casual dining industry. Olive Garden (868 units), LongHorn (522), and Cheddar's Scratch Kitchen (165 company-owned units) are its core brands, while the smaller, faster-growing specialty restaurant group is made up of Yard House (81), The Capital Grille (60), Seasons 52 (44), Bahama Breeze (41), and Eddie V's (23). In November 2015, the company spun off selected real estate and restaurant assets into Four Corners Property Trust.

Darden's stock traded down 3.89% at $79.60 per share at the time of publication on Wednesday. The stock has a 52-week high of $128.41 and a 52-week low of $26.15.