Brinker International (NYSE:EAT) Stock Price Up 6.4% on Analyst Upgrade

Brinker International, Inc. (NYSE:EAT)’s stock price rose 6.4% on Thursday after Barclays raised their price target on the stock from $53.00 to $66.00. Barclays currently has an equal weight rating on the stock. Brinker International traded as high as $67.69 and last traded at $66.90. Approximately 549,925 shares changed hands during trading, a decline of 63% from the average daily volume of 1,492,281 shares. The stock had previously closed at $62.86.

Several other research analysts have also weighed in on the company. Stifel Nicolaus upped their target price on Brinker International from $62.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Bank of America upped their target price on Brinker International from $51.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. BMO Capital Markets dropped their target price on Brinker International from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday. Evercore ISI upped their target price on Brinker International from $65.00 to $69.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, KeyCorp raised Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brinker International has an average rating of “Hold” and a consensus price target of $60.91.

Insider Transactions at Brinker International

In other news, Director Prashant Ranade sold 1,100 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $62.47, for a total value of $68,717.00. Following the completion of the transaction, the director now directly owns 17,039 shares of the company’s stock, valued at approximately $1,064,426.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Brinker International news, Director Prashant Ranade sold 1,100 shares of Brinker International stock in a transaction on Friday, May 17th. The stock was sold at an average price of $62.47, for a total value of $68,717.00. Following the completion of the transaction, the director now owns 17,039 shares in the company, valued at approximately $1,064,426.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Douglas N. Comings sold 10,000 shares of Brinker International stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $68.31, for a total value of $683,100.00. Following the completion of the transaction, the chief operating officer now owns 38,164 shares of the company’s stock, valued at approximately $2,606,982.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,664 shares of company stock valued at $1,216,601. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Several institutional investors have recently bought and sold shares of EAT. Seven Eight Capital LP bought a new stake in shares of Brinker International during the fourth quarter worth $1,594,000. Cetera Advisors LLC bought a new stake in shares of Brinker International during the first quarter worth $714,000. Alpha DNA Investment Management LLC bought a new stake in shares of Brinker International during the fourth quarter worth $584,000. Lazard Asset Management LLC raised its position in shares of Brinker International by 36.7% during the first quarter. Lazard Asset Management LLC now owns 279,974 shares of the restaurant operator’s stock worth $13,908,000 after acquiring an additional 75,225 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Brinker International by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock worth $275,004,000 after purchasing an additional 135,580 shares during the period.

Brinker International Price Performance

The business has a 50 day moving average of $67.41 and a 200 day moving average of $56.93. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.63 and a beta of 2.52.

Brinker International (NYSE:EAT) last posted its earnings results 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). Brinker International had a net margin of 3.55% and a negative return on equity of 154.29%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Brinker International, Inc. will post 4.18 EPS for the current year.

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.