Brinker International (NYSE:EAT) Given New $58.00 Price Target at Bank of America

Brinker International (NYSE:EAT) had its price objective upped by Bank of America from $51.00 to $58.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an underperform rating on the restaurant operator’s stock.

Other research analysts also recently issued reports about the company. Evercore ISI boosted their price objective on Brinker International from $53.00 to $65.00 and gave the company an in-line rating in a research note on Wednesday, May 22nd. BMO Capital Markets boosted their price objective on Brinker International from $55.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on Brinker International from $48.00 to $62.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Raymond James downgraded Brinker International from a strong-buy rating to an outperform rating and boosted their price objective for the company from $62.00 to $82.50 in a research note on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on Brinker International from $47.00 to $48.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brinker International presently has a consensus rating of Hold and a consensus target price of $56.03.

Brinker International Stock Up 3.3 %

Brinker International stock opened at $66.69 on Wednesday. The business has a 50-day simple moving average of $68.01 and a two-hundred day simple moving average of $53.79. The company has a market cap of $2.97 billion, a P/E ratio of 19.79, a P/E/G ratio of 0.65 and a beta of 2.51. Brinker International has a 52-week low of $28.23 and a 52-week high of $76.02.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. Research analysts anticipate that Brinker International will post 4.11 EPS for the current fiscal year.

Insider Transactions at Brinker International

In other news, Director Prashant Ranade sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $62.47, for a total transaction of $68,717.00. Following the sale, the director now directly owns 17,039 shares of the company’s stock, valued at approximately $1,064,426.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Prashant Ranade sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $62.47, for a total transaction of $68,717.00. Following the sale, the director now directly owns 17,039 shares of the company’s stock, valued at approximately $1,064,426.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel S. Fuller sold 3,611 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $69.04, for a total value of $249,303.44. Following the sale, the senior vice president now owns 34,764 shares in the company, valued at approximately $2,400,106.56. The disclosure for this sale can be found here. Insiders have sold 57,714 shares of company stock valued at $3,637,623 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Brinker International

Several hedge funds and other institutional investors have recently bought and sold shares of EAT. Transcendent Capital Group LLC purchased a new stake in Brinker International during the 1st quarter valued at $25,000. TFO Wealth Partners LLC raised its holdings in Brinker International by 64,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 649 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 648 shares during the period. Parkside Financial Bank & Trust raised its holdings in Brinker International by 3,611.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 668 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 650 shares during the period. CWM LLC raised its holdings in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 204 shares during the period. Finally, Headlands Technologies LLC bought a new position in Brinker International in the 1st quarter valued at $47,000.

Brinker International Company Profile

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.