Brinker International (NYSE:EAT) Sets New 12-Month High on Analyst Upgrade

Brinker International, Inc. (NYSE:EAT)’s share price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $90.00 to $94.00. Bank of America currently has a neutral rating on the stock. Brinker International traded as high as $93.93 and last traded at $93.91, with a volume of 723619 shares traded. The stock had previously closed at $92.46.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wedbush restated a “neutral” rating and issued a $68.00 target price on shares of Brinker International in a research note on Thursday, August 15th. Citigroup lifted their target price on shares of Brinker International from $69.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. BMO Capital Markets cut their price target on shares of Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Finally, Stifel Nicolaus lifted their price objective on Brinker International from $62.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brinker International presently has a consensus rating of “Hold” and an average target price of $74.03.

Hedge Funds Weigh In On Brinker International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. Transcendent Capital Group LLC acquired a new stake in shares of Brinker International in the first quarter valued at approximately $25,000. CWM LLC increased its holdings in shares of Brinker International by 96.2% during the 2nd 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. Headlands Technologies LLC purchased a new position in shares of Brinker International in the 1st quarter worth $47,000. Hollencrest Capital Management purchased a new stake in Brinker International during the first quarter valued at about $50,000. Finally, Covestor Ltd grew its position in Brinker International by 32,500.0% during the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 1,300 shares during the period.

Brinker International Trading Up 1.4 %

The company has a debt-to-equity ratio of 19.96, a quick ratio of 0.32 and a current ratio of 0.38. The company has a market capitalization of $4.17 billion, a PE ratio of 27.66, a P/E/G ratio of 1.35 and a beta of 2.51. The business has a fifty day moving average price of $75.25 and a 200 day moving average price of $66.72.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts expect that Brinker International, Inc. will post 4.66 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.