Brinker International (NYSE:EAT) Hits New 52-Week High – What’s Next?

Shares of Brinker International, Inc. (NYSE:EAT) hit a new 52-week high during trading on Thursday . The company traded as high as $138.60 and last traded at $138.02, with a volume of 222203 shares traded. The stock had previously closed at $132.29.

Analyst Upgrades and Downgrades

EAT has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $95.00 to $130.00 in a research report on Thursday, December 12th. KeyCorp lifted their price target on shares of Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays lifted their target price on Brinker International from $76.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Argus raised Brinker International from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Tuesday, December 24th. Finally, The Goldman Sachs Group assumed coverage on Brinker International in a research report on Thursday, December 5th. They set a “buy” rating and a $150.00 price objective for the company. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.53.

Brinker International Trading Up 5.3 %

The firm’s fifty day moving average is $122.68 and its two-hundred day moving average is $89.98. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The firm has a market capitalization of $6.19 billion, a PE ratio of 33.96, a PEG ratio of 1.46 and a beta of 2.51.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that Brinker International, Inc. will post 5.43 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brinker International

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in 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 acquiring an additional 246 shares during the period. Quest Partners LLC lifted its stake in shares of Brinker International by 1,265.2% in the 2nd quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock valued at $136,000 after purchasing an additional 1,746 shares during the period. Xponance Inc. bought a new position in Brinker International in the second quarter worth $202,000. Burford Brothers Inc. bought a new position in shares of Brinker International in the 3rd quarter worth about $203,000. Finally, Mackenzie Financial Corp purchased a new position in Brinker International during the 2nd quarter valued at about $204,000.

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.