Brinker International (NYSE:EAT) Reaches New 52-Week High Following Analyst Upgrade

Shares of Brinker International, Inc. (NYSE:EAT) hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $105.00 to $125.00. BMO Capital Markets currently has a market perform rating on the stock. Brinker International traded as high as $155.55 and last traded at $155.23, with a volume of 921257 shares. The stock had previously closed at $151.82.

A number of other research analysts have also recently weighed in on the company. Piper Sandler raised 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. JPMorgan Chase & Co. cut shares of Brinker International from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $67.00 to $100.00 in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Brinker International from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on Brinker International from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley upgraded Brinker International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $115.00 in a report on Friday, December 20th. Sixteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $111.29.

Insiders Place Their Bets

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction that occurred on 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 directly owns 23,071 shares in the company, 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 filing with the SEC, which is available at the SEC website. 1.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brinker International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Brinker International by 23.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock valued at $20,879,000 after buying an additional 51,927 shares during the period. Empowered Funds LLC acquired a new stake in Brinker International during the third quarter valued at $5,330,000. Intech Investment Management LLC increased its position in Brinker International by 399.9% in the 3rd quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock worth $1,845,000 after purchasing an additional 19,281 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Brinker International during the 3rd quarter worth about $941,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Brinker International in the 3rd quarter valued at approximately $2,273,000.

Brinker International Stock Up 2.3 %

The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 1.56 and a beta of 2.52. The business has a fifty day moving average of $135.22 and a 200 day moving average of $99.46.

Brinker International (NYSE:EAT) last announced its quarterly 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Brinker International, Inc. will post 5.96 earnings per share for the current year.

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.