Brinker International (NYSE:EAT) Hits New 1-Year High – Here’s What Happened

Brinker International, Inc. (NYSE:EAT)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.00 and last traded at $96.90, with a volume of 23381 shares traded. The stock had previously closed at $94.89.

Wall Street Analyst Weigh In

EAT has been the topic of a number of analyst reports. Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Brinker International in a research report on Thursday, August 15th. Evercore ISI boosted their price target on shares of Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a report on Tuesday, October 15th. Bank of America raised their price objective on Brinker International from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Citigroup boosted their target price on Brinker International from $69.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target on shares of Brinker International from $50.00 to $85.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.62.

Brinker International Stock Up 3.5 %

The stock has a 50-day moving average of $77.96 and a 200-day moving average of $68.36. The company has a debt-to-equity ratio of 19.96, a current ratio of 0.38 and a quick ratio of 0.32. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 1.35 and a beta of 2.51.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 274.62% and a net margin of 3.52%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.39 earnings per share. Sell-side analysts predict that Brinker International, Inc. will post 4.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Brinker International

Several institutional investors and hedge funds have recently added to or reduced their stakes in EAT. Transcendent Capital Group LLC bought a new position in shares of Brinker International in the 1st quarter valued at $25,000. CWM LLC grew its stake in shares of Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock worth $30,000 after buying an additional 204 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Brinker International during the first quarter worth $47,000. Hollencrest Capital Management bought a new position in Brinker International in the first quarter valued at about $50,000. Finally, Covestor Ltd increased its stake in shares of Brinker International by 32,500.0% in the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 1,300 shares during the period.

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.