Brinker International, Inc. (NYSE:EAT)‘s stock had its “buy” rating reissued by equities researchers at Maxim Group in a research report issued to clients and investors on Thursday, November 2nd. They presently have a $49.00 price target on the restaurant operator’s stock. Maxim Group’s price target points to a potential upside of 46.53% from the company’s current price.
EAT has been the subject of a number of other research reports. ValuEngine raised shares of Brinker International from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Telsey Advisory Group reduced their price objective on shares of Brinker International from $49.00 to $40.00 and set a “market perform” rating for the company in a research note on Monday, July 17th. Zacks Investment Research downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $40.00 price objective (down previously from $49.00) on shares of Brinker International in a research note on Wednesday, August 9th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 price target on shares of Brinker International in a report on Sunday, October 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.50.
Brinker International (NYSE:EAT) traded up $0.37 during trading on Thursday, hitting $33.44. 1,525,300 shares of the stock traded hands, compared to its average volume of 1,419,877. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of -2.51. Brinker International has a 1 year low of $29.50 and a 1 year high of $55.84. The company has a market capitalization of $1,530.82, a P/E ratio of 10.47, a PEG ratio of 1.04 and a beta of 0.16.
Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). Brinker International had a net margin of 4.39% and a negative return on equity of 30.36%. The company had revenue of $739.40 million for the quarter, compared to the consensus estimate of $749.05 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue was down 2.5% on a year-over-year basis. research analysts expect that Brinker International will post 3.22 earnings per share for the current year.
Brinker International announced that its board has approved a stock repurchase plan on Thursday, August 10th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 14.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In other Brinker International news, Director Michael A. George purchased 16,450 shares of the stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now owns 49,952 shares in the company, valued at $1,514,045.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Charles A. Lousignont sold 3,364 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $33.00, for a total transaction of $111,012.00. Following the completion of the transaction, the senior vice president now owns 15,074 shares of the company’s stock, valued at approximately $497,442. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of EAT. Bruderman Asset Management LLC acquired a new position in shares of Brinker International in the second quarter worth about $123,000. LS Investment Advisors LLC raised its position in shares of Brinker International by 14.2% in the second quarter. LS Investment Advisors LLC now owns 4,689 shares of the restaurant operator’s stock worth $179,000 after acquiring an additional 582 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Brinker International in the third quarter worth about $221,000. ING Groep NV acquired a new position in shares of Brinker International in the second quarter worth about $227,000. Finally, Profund Advisors LLC raised its position in shares of Brinker International by 0.8% in the second quarter. Profund Advisors LLC now owns 6,849 shares of the restaurant operator’s stock worth $261,000 after acquiring an additional 57 shares during the period.
About Brinker International
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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