Restaurants companies like Darden Restaurants (NYSE:DRI) struggled during the pandemic, but the stock has shown bullish momentum over the past couple months. As the economy continues to open up, more and more people are heading back to restaurants. But is the stock a buy at its current price? Read more to find out.Darden Restaurants (DRI) is piquing investor interest now that life is finally returning to at least a semblance of normal. DRI was trading at $133 in late March. The stock shot up to $148 in the final week of the month and has since been trading between $140 and $146.
Look back six months, and you will find DRI was priced at a lowly $90 in late October of 2020. DRI has slowly but surely moved upward in the months since. In other words, it is clear that investors anticipate consumers will be spending at DRI restaurants as the economy gradually reopens.
Will DRI continue to move even higher now that people are returning to life as usual? Or have consumers changed their ways to the extent that they will cook on their own at home instead of relying on DRI restaurants for hot eats and cool treats? We answer these questions below.