Brinker International (NYSE:EAT) Reaches New 12-Month High on Analyst Upgrade

Brinker International, Inc. (NYSE:EAT)’s share price hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $105.00 to $125.00. BMO Capital Markets currently has a market perform rating on the stock. Brinker International traded as high as $155.55 and last traded at $155.23, with a volume of 921257 shares traded. The stock had previously closed at $151.82.

A number of other research firms have also commented on EAT. JPMorgan Chase & Co. lowered Brinker International from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $67.00 to $100.00 in a research report on Thursday, October 31st. Raymond James cut Brinker International from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. Bank of America upped their price target on shares of Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. KeyCorp cut shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price objective for the company. in a research report on Friday. Finally, UBS Group boosted their target price on shares of Brinker International from $108.00 to $146.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Sixteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $111.29.

Insider Buying and Selling at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the 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 completion of the sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This represents a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Brinker International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new stake in Brinker International during the 4th quarter worth about $81,888,000. Assenagon Asset Management S.A. boosted its position in Brinker International by 2,612.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock worth $77,865,000 after purchasing an additional 566,894 shares during the period. Wedge Capital Management L L P NC grew its stake in Brinker International by 1,145.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock valued at $55,038,000 after buying an additional 382,633 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after acquiring an additional 227,047 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock valued at $47,351,000 after buying an additional 219,836 shares in the last quarter.

Brinker International Trading Up 2.3 %

The business’s 50-day moving average is $135.22 and its 200 day moving average is $99.46. The firm has a market capitalization of $6.90 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 1.56 and a beta of 2.52. 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 (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. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Brinker International’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Brinker International, Inc. will post 5.96 EPS for the current fiscal year.

About Brinker International

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.