Brinker International (NYSE:EAT) Reaches New 52-Week High – Here’s What Happened

Brinker International, Inc. (NYSE:EAT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $119.43 and last traded at $119.32, with a volume of 75305 shares. The stock had previously closed at $117.61.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EAT. Stifel Nicolaus lifted their price target on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. downgraded Brinker International from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $67.00 to $100.00 in a research note on Thursday, October 31st. Bank of America lifted their price target on Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Raymond James downgraded Brinker International from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $86.45.

Brinker International Trading Up 1.2 %

The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The company has a fifty day simple moving average of $86.24 and a two-hundred day simple moving average of $73.13. The stock has a market capitalization of $5.29 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 1.27 and a beta of 2.46.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, sell-side analysts expect that Brinker International, Inc. will post 5.53 earnings per share for the current year.

Insider Transactions at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brinker International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in Brinker International by 6.7% during the 1st quarter. BNP Paribas Financial Markets now owns 37,120 shares of the restaurant operator’s stock valued at $1,844,000 after purchasing an additional 2,343 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Brinker International by 3.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,707 shares of the restaurant operator’s stock worth $1,923,000 after buying an additional 1,264 shares during the last quarter. Sei Investments Co. raised its holdings in Brinker International by 6.6% during the first quarter. Sei Investments Co. now owns 87,423 shares of the restaurant operator’s stock valued at $4,343,000 after acquiring an additional 5,410 shares during the period. Headlands Technologies LLC purchased a new position in Brinker International in the first quarter worth about $47,000. Finally, Russell Investments Group Ltd. grew its position in Brinker International by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 20,640 shares of the restaurant operator’s stock worth $1,025,000 after acquiring an additional 1,049 shares in the last quarter.

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.