Wall Street Zen upgraded shares of Brinker International (NYSE:EAT – Free Report) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.
A number of other analysts have also recently issued reports on EAT. Bank of America boosted their target price on Brinker International from $224.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Stephens restated an “overweight” rating and issued a $300.00 price target on shares of Brinker International in a report on Thursday, October 29th. TD Cowen lifted their price target on shares of Brinker International from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Weiss Ratings upgraded shares of Brinker International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 11th. Finally, Morgan Stanley boosted their price objective on shares of Brinker International from $260.00 to $262.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Brinker International has an average rating of “Moderate Buy” and an average target price of $249.80.
Get Our Latest Stock Analysis on Brinker International
Brinker International Price Performance
Shares of Brinker International stock opened at $210.86 on Friday. Brinker International has a twelve month low of $100.30 and a twelve month high of $254.99. The stock has a market capitalization of $8.81 billion, a P/E ratio of 18.56, a PEG ratio of 1.20 and a beta of 1.25. The company has a current ratio of 0.34, a quick ratio of 0.40 and a debt-to-equity ratio of 1.13. The business’s fifty day moving average price is $208.75 and its 200 day moving average price is $174.81.
Brinker International (NYSE:EAT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.32. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Brinker International had a return on equity of 125.65% and a net margin of 8.44%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. As a group, research analysts anticipate that Brinker International will post 13.67 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Joseph DePinto sold 25,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $230.39, for a total transaction of $5,759,750.00. Following the transaction, the director directly owned 77,812 shares of the company’s stock, valued at approximately $17,927,106.68. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Hochman sold 40,000 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $220.38, for a total transaction of $8,815,200.00. Following the transaction, the chief executive officer directly owned 104,603 shares in the company, valued at approximately $23,052,409.14. The trade was a 27.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 213,694 shares of company stock valued at $50,383,890. 1.18% of the stock is owned by insiders.
Institutional Investors Weigh In On Brinker International
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. BlackRock Inc. raised its holdings in shares of Brinker International by 2.2% during the second quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator’s stock worth $1,130,552,000 after purchasing an additional 145,525 shares during the period. State Street Corp boosted its holdings in shares of Brinker International by 3.5% in the 2nd quarter. State Street Corp now owns 1,748,760 shares of the restaurant operator’s stock valued at $293,786,000 after buying an additional 59,120 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Brinker International by 0.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,170,612 shares of the restaurant operator’s stock valued at $167,128,000 after buying an additional 9,692 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Brinker International during the 2nd quarter valued at about $91,237,000. Finally, Wellington Management Group LLP grew its position in shares of Brinker International by 63.7% during the 2nd quarter. Wellington Management Group LLP now owns 413,472 shares of the restaurant operator’s stock valued at $69,463,000 after buying an additional 160,939 shares during the last quarter.
Brinker International Company Profile
Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.
Brinker’s principal brands are Chili’s Grill & Bar and Maggiano’s Little Italy. Chili’s offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.
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