Brinker International’s (EAT) Buy Rating Reiterated at Maxim Group

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.

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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.

Analyst Recommendations for Brinker International (NYSE:EAT)

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