Brinker International (NYSE:EAT) Sets New 52-Week High After Analyst Upgrade

Brinker International, Inc. (NYSE:EAT) shares reached a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $62.00 to $97.00. Piper Sandler currently has a neutral rating on the stock. Brinker International traded as high as $107.18 and last traded at $107.01, with a volume of 96339 shares. The stock had previously closed at $104.92.

Several other analysts have also commented on EAT. Evercore ISI increased their price objective on Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a report on Tuesday, October 15th. Morgan Stanley raised their price objective on Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. UBS Group upped their price target on shares of Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut Brinker International from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $67.00 to $100.00 in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $86.45.

Insider Activity

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the business’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 completion of the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its stake in shares of Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after buying an additional 204 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Brinker International in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Brinker International during the first quarter worth about $47,000. Signaturefd LLC raised its stake in shares of Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 246 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Brinker International by 32,500.0% in the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 1,300 shares in the last quarter.

Brinker International Stock Performance

The company has a market capitalization of $4.80 billion, a P/E ratio of 26.28, a PEG ratio of 1.44 and a beta of 2.46. The stock’s fifty day moving average price is $81.21 and its 200-day moving average price is $70.34. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.32 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last 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, research analysts anticipate that Brinker International, Inc. will post 5.6 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.