Brinker International (NYSE:EAT) Hits New 52-Week High – Still a Buy?

Brinker International, Inc. (NYSE:EAT) shares reached a new 52-week high on Monday . The stock traded as high as $85.43 and last traded at $85.31, with a volume of 119018 shares trading hands. The stock had previously closed at $83.48.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EAT. Citigroup raised their target price on shares of Brinker International from $69.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Argus cut shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Wedbush reiterated a “neutral” rating and set a $68.00 price objective on shares of Brinker International in a research report on Thursday, August 15th. Morgan Stanley increased their price objective on shares of Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI increased their price objective on shares of Brinker International from $65.00 to $69.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.26.

Brinker International Price Performance

The firm’s 50-day moving average price is $72.57 and its two-hundred day moving average price is $65.31. The stock has a market cap of $3.87 billion, a PE ratio of 24.77, a PEG ratio of 1.35 and a beta of 2.51. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 19.96.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). Brinker International had a negative return on equity of 274.62% and a net margin of 3.52%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $1.39 EPS. Brinker International’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts expect that Brinker International, Inc. will post 4.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Brinker International by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator’s stock worth $967,000 after acquiring an additional 169 shares in the last quarter. CWM LLC increased its stake in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 204 shares in the last quarter. Arizona State Retirement System increased its stake in Brinker International by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock valued at $896,000 after purchasing an additional 234 shares in the last quarter. Signaturefd LLC increased its stake in Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Brinker International during the 1st quarter valued at approximately $25,000.

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.