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Jim Cramer's Stop Trading: DRI

NEW YORK ( TheStreet) -- Barington Group wants a new CEO to run Darden Restaurants (DRI - Get Report). The shareholder says the stock will go higher if the current CEO, Clarence Otis, is replaced. 

TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, agrees, saying that "a change at the top would be very meaningful." 

The stock could climb $5 per share if the company announced Otis's resignation, he said. Cramer doesn't agree with Darden's plan to spin off its Red Lobster restaurants but thinks a management change would be more effective. 

Cramer acknowledged that Otis used to be a star, but "the times change." Comparable-store sales of -8% for Red Lobster and -5% for Olive Garden are "not tenable," Cramer concluded. 

Must Read: Cracks Beneath the Market's Surface

- - Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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DRI $56.85 0.92%
AAPL $118.03 -0.71%
FB $105.41 -0.31%
GOOG $748.15 -0.02%
TSLA $229.64 5.22%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

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