BMO Capital Markets Cuts Brinker International (NYSE:EAT) Price Target to $80.00

Brinker International (NYSE:EAT) had its price target cut by BMO Capital Markets from $85.00 to $80.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on EAT. JPMorgan Chase & Co. boosted their price target on Brinker International from $48.00 to $62.00 and gave the company an overweight rating in a report on Tuesday, May 28th. Bank of America upped their target price on Brinker International from $51.00 to $58.00 and gave the company an underperform rating in a research note on Wednesday, July 17th. Argus raised Brinker International from a hold rating to a buy rating and set a $72.00 price target on the stock in a research note on Tuesday, May 21st. Evercore ISI upped their price objective on shares of Brinker International from $65.00 to $69.00 and gave the company an in-line rating in a research note on Thursday. Finally, UBS Group raised their target price on shares of Brinker International from $46.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $61.85.

Brinker International Trading Down 2.2 %

Brinker International stock opened at $65.57 on Thursday. The stock has a 50-day moving average price of $67.23 and a 200 day moving average price of $57.29. Brinker International has a 52 week low of $28.23 and a 52 week high of $76.02. The stock has a market cap of $2.92 billion, a PE ratio of 19.46, a P/E/G ratio of 0.63 and a beta of 2.52.

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). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. Brinker International’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. On average, equities analysts predict that Brinker International will post 4.18 EPS for the current year.

Insider Activity

In related news, COO Douglas N. Comings sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $68.31, for a total transaction of $683,100.00. Following the completion of the sale, the chief operating officer now directly owns 38,164 shares of the company’s stock, valued at approximately $2,606,982.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Brinker International news, COO Douglas N. Comings sold 2,953 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $72.97, for a total value of $215,480.41. Following the completion of the sale, the chief operating officer now owns 38,164 shares of the company’s stock, valued at $2,784,827.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Douglas N. Comings sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total transaction of $683,100.00. Following the transaction, the chief operating officer now directly owns 38,164 shares in the company, valued at $2,606,982.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,564 shares of company stock valued at $1,147,884. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Brinker International

Large investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in Brinker International in the 4th quarter valued at about $1,594,000. Cetera Advisors LLC purchased a new position in Brinker International in the first quarter valued at about $714,000. Alpha DNA Investment Management LLC acquired a new stake in Brinker International during the 4th quarter valued at approximately $584,000. Lazard Asset Management LLC grew its stake in Brinker International by 36.7% during the 1st quarter. Lazard Asset Management LLC now owns 279,974 shares of the restaurant operator’s stock valued at $13,908,000 after purchasing an additional 75,225 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Brinker International by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock valued at $275,004,000 after purchasing an additional 135,580 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.