Brinker International (NYSE:EAT) Price Target Raised to $97.00

Brinker International (NYSE:EAT) had its price objective increased by Piper Sandler from $62.00 to $97.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Brinker International from $85.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut Brinker International from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $67.00 to $100.00 in a report on Thursday, October 31st. Wedbush restated a “neutral” rating and set a $68.00 price objective on shares of Brinker International in a research report on Thursday, August 15th. Barclays lifted their target price on Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Evercore ISI increased their target price on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.45.

Brinker International Price Performance

Shares of NYSE EAT opened at $115.88 on Monday. The business has a fifty day moving average price of $82.72 and a two-hundred day moving average price of $71.23. The stock has a market capitalization of $5.15 billion, a PE ratio of 26.78, a P/E/G ratio of 1.18 and a beta of 2.46. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. Brinker International has a fifty-two week low of $33.24 and a fifty-two week high of $119.42.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. Brinker International’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Brinker International will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Brinker International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Brinker International during the first quarter worth $25,000. CWM LLC grew its holdings in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 204 shares during the period. Headlands Technologies LLC bought a new position in shares of Brinker International in the 1st quarter worth about $47,000. Covestor Ltd lifted its stake in shares of Brinker International by 32,500.0% in the 1st quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after purchasing an additional 1,300 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares in the last quarter.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.