Brinker International, Inc. (NYSE:EAT) Short Interest Down 5.7% in October

Brinker International, Inc. (NYSE:EAT) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 5,140,000 shares, a decrease of 5.7% from the September 30th total of 5,450,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 4.6 days. Approximately 11.8% of the company’s shares are sold short.

Brinker International Price Performance

Shares of EAT opened at $33.40 on Tuesday. Brinker International has a one year low of $27.77 and a one year high of $42.12. The company has a market cap of $1.48 billion, a PE ratio of 14.91, a P/E/G ratio of 0.69 and a beta of 2.35. The stock has a 50-day moving average of $31.70 and a 200-day moving average of $35.59.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, August 16th. The restaurant operator reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Brinker International had a negative return on equity of 55.47% and a net margin of 2.48%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Brinker International will post 3.31 EPS for the current fiscal year.

Institutional Trading of Brinker International

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in Brinker International during the 2nd quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Brinker International during the fourth quarter valued at approximately $31,000. Bogart Wealth LLC grew its holdings in Brinker International by 100.0% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Brinker International in the 1st quarter valued at $32,000. Finally, Quarry LP lifted its stake in Brinker International by 242.1% during the 2nd quarter. Quarry LP now owns 1,016 shares of the restaurant operator’s stock valued at $37,000 after acquiring an additional 719 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EAT shares. Piper Sandler cut their target price on Brinker International from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 22nd. Citigroup cut their price objective on Brinker International from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Bank of America reduced their target price on Brinker International from $38.00 to $37.00 and set an “underperform” rating on the stock in a report on Thursday, August 17th. JPMorgan Chase & Co. lowered their price target on shares of Brinker International from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Finally, Raymond James raised shares of Brinker International from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $45.00 to $40.00 in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.20.

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.