Brinker International (NYSE:EAT) Sets New 1-Year High – Here’s Why

Shares of Brinker International, Inc. (NYSE:EAT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $143.15 and last traded at $141.70, with a volume of 77191 shares traded. The stock had previously closed at $139.81.

Analysts Set New Price Targets

EAT has been the subject of several recent analyst reports. Bank Of America (Bofa) raised their price objective on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Morgan Stanley upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Friday, December 20th. JPMorgan Chase & Co. cut Brinker International from an “overweight” rating to a “neutral” rating and upped their price target for the company from $67.00 to $100.00 in a report on Thursday, October 31st. Barclays boosted their target price on Brinker International from $95.00 to $143.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group initiated coverage on Brinker International in a research report on Thursday, December 5th. They issued a “buy” rating and a $150.00 price target for the company. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $105.28.

Brinker International Price Performance

The company has a market capitalization of $6.35 billion, a PE ratio of 34.89, a P/E/G ratio of 1.46 and a beta of 2.52. The stock has a 50 day moving average price of $128.88 and a two-hundred day moving average price of $93.93. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that Brinker International, Inc. will post 5.43 earnings per share for the current year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Brinker International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NorthCrest Asset Manangement LLC boosted its position in Brinker International by 1.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after buying an additional 135 shares during the last quarter. GAMMA Investing LLC increased its position in Brinker International by 123.9% in the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 171 shares during the period. Optimist Retirement Group LLC raised its holdings in Brinker International by 6.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock worth $249,000 after purchasing an additional 187 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Brinker International by 2.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 27,863 shares of the restaurant operator’s stock valued at $2,132,000 after purchasing an additional 732 shares during the period. Finally, Highview Capital Management LLC DE boosted its stake in shares of Brinker International by 5.9% in the 3rd quarter. Highview Capital Management LLC DE now owns 13,339 shares of the restaurant operator’s stock valued at $1,021,000 after purchasing an additional 744 shares during the last quarter.

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.