Brinker International (NYSE:EAT) Price Target Raised to $150.00

Brinker International (NYSE:EAT) had its price objective upped by Barclays from $143.00 to $150.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised Brinker International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $115.00 in a research note on Friday, December 20th. Bank of America lifted their target price on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lowered shares of Brinker International from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $80.00 to $105.00 in a research note on Thursday, October 31st. Raymond James downgraded shares of Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Finally, Bank Of America (Bofa) boosted their price objective on shares of Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.45.

Brinker International Stock Performance

NYSE EAT opened at $149.63 on Friday. The business’s 50 day moving average price is $134.65 and its 200-day moving average price is $98.85. Brinker International has a fifty-two week low of $39.11 and a fifty-two week high of $155.13. The company has a market cap of $6.65 billion, a P/E ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 2.52. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Sell-side analysts predict that Brinker International will post 5.96 earnings per share for the current year.

Insider Buying and Selling at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of Brinker International by 28.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,758 shares of the restaurant operator’s stock valued at $489,000 after buying an additional 1,485 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Brinker International during the 2nd quarter valued at about $349,000. Evergreen Capital Management LLC purchased a new stake in Brinker International during the 2nd quarter valued at about $231,000. Bank of Montreal Can increased its holdings in shares of Brinker International by 26.7% in the second quarter. Bank of Montreal Can now owns 7,378 shares of the restaurant operator’s stock valued at $548,000 after purchasing an additional 1,557 shares during the period. Finally, Xponance Inc. purchased a new position in shares of Brinker International in the second quarter worth about $202,000.

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.