Brinker International (NYSE:EAT) Shares Gap Down – What’s Next?

Brinker International, Inc. (NYSE:EAT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $154.52, but opened at $151.07. Brinker International shares last traded at $149.28, with a volume of 169,834 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on EAT. KeyCorp lowered Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price objective for the company. in a report on Friday. Piper Sandler lifted their price target on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Argus raised Brinker International from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Tuesday, December 24th. Morgan Stanley upgraded 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 report on Friday, December 20th. Finally, Citigroup boosted their price target on Brinker International from $83.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.45.

Brinker International Trading Down 3.2 %

The stock has a market cap of $6.65 billion, a PE ratio of 36.50, a PEG ratio of 1.56 and a beta of 2.52. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The stock’s fifty day moving average price is $134.65 and its 200 day moving average price is $98.62.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.28 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts forecast that Brinker International, Inc. will post 5.96 EPS for the current year.

Insider Activity

In other news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This represents a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its position in Brinker International by 100.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC grew its position in shares of Brinker International by 123.9% during the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 171 shares during the period. R Squared Ltd purchased a new stake in shares of Brinker International in the 4th quarter worth $83,000. DGS Capital Management LLC bought a new position in Brinker International in the 4th quarter worth $242,000. Finally, KBC Group NV lifted its position in Brinker International by 46.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the restaurant operator’s stock valued at $244,000 after purchasing an additional 589 shares in 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.