Brinker International (NYSE:EAT) Price Target Raised to $90.00

Brinker International (NYSE:EAT) had its target price hoisted by equities researchers at Stifel Nicolaus from $62.00 to $90.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Stifel Nicolaus’ target price indicates a potential upside of 22.22% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Wedbush lifted their price target on shares of Brinker International from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley lifted their target price on shares of Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Argus raised shares of Brinker International from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their price target on shares of Brinker International from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI boosted their price objective on shares of Brinker International from $53.00 to $65.00 and gave the company an “in-line” rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.76.

Brinker International Stock Up 3.4 %

EAT stock opened at $73.64 on Tuesday. The firm has a 50 day moving average of $61.40 and a 200 day moving average of $50.32. The stock has a market capitalization of $3.28 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 0.86 and a beta of 2.48. Brinker International has a 52 week low of $28.23 and a 52 week high of $73.94.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. Brinker International had a net margin of 3.55% and a negative return on equity of 154.29%. Brinker International’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. On average, equities research analysts expect that Brinker International will post 4 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Joseph G. Taylor sold 40,050 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $60.45, for a total transaction of $2,421,022.50. Following the sale, the chief financial officer now directly owns 66,286 shares of the company’s stock, valued at $4,006,988.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brinker International news, COO Douglas N. Comings sold 2,953 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $72.97, for a total value of $215,480.41. Following the sale, the chief operating officer now owns 38,164 shares of the company’s stock, valued at approximately $2,784,827.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph G. Taylor sold 40,050 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $60.45, for a total value of $2,421,022.50. Following the completion of the sale, the chief financial officer now owns 66,286 shares of the company’s stock, valued at approximately $4,006,988.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,714 shares of company stock worth $3,637,623. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brinker International

Several hedge funds and other institutional investors have recently modified their holdings of EAT. Transcendent Capital Group LLC acquired a new stake in shares of Brinker International in the 1st quarter valued at $25,000. TFO Wealth Partners LLC raised its holdings in Brinker International by 64,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 648 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Brinker International by 3,611.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock worth $29,000 after buying an additional 650 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Brinker International in the third quarter valued at approximately $31,000. Finally, Covestor Ltd grew its position in shares of Brinker International by 28,800.0% in the third quarter. Covestor Ltd now owns 1,445 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 1,440 shares during the last quarter.

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.