Brinker International (NYSE:EAT) Hits New 12-Month High at $76.53

Brinker International, Inc. (NYSE:EAT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $76.53 and last traded at $76.39, with a volume of 55976 shares changing hands. The stock had previously closed at $75.19.

Analysts Set New Price Targets

EAT has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their target price on Brinker International from $62.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley upped their target price on Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on Brinker International from $48.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Bank of America upped their price target on Brinker International from $58.00 to $63.00 and gave the company an “underperform” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target on Brinker International from $45.00 to $50.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Brinker International presently has an average rating of “Hold” and an average target price of $61.85.

Brinker International Stock Performance

The stock has a market capitalization of $3.46 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.14 and a beta of 2.52. The stock has a 50 day moving average of $67.55 and a 200 day moving average of $61.39. The company has a debt-to-equity ratio of 19.96, a quick ratio of 0.32 and a current ratio of 0.38.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). Brinker International had a negative return on equity of 274.62% and a net margin of 3.52%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts predict that Brinker International, Inc. will post 4.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers grew its stake in shares of Brinker International by 27.6% in the second quarter. Cetera Investment Advisers now owns 22,925 shares of the restaurant operator’s stock worth $1,660,000 after purchasing an additional 4,958 shares in the last quarter. Cape Cod Five Cents Savings Bank bought a new position in shares of Brinker International in the second quarter worth $210,000. Creative Planning grew its stake in shares of Brinker International by 49.3% in the second quarter. Creative Planning now owns 14,310 shares of the restaurant operator’s stock worth $1,036,000 after purchasing an additional 4,723 shares in the last quarter. Algert Global LLC bought a new position in shares of Brinker International in the second quarter worth $322,000. Finally, Shellback Capital LP bought a new position in Brinker International during the second quarter valued at about $7,963,000.

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.