Wells Fargo & Company Issues Positive Forecast for Brinker International (NYSE:EAT) Stock Price

Brinker International (NYSE:EAT) had its price objective upped by Wells Fargo & Company from $130.00 to $145.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

A number of other research analysts have also recently weighed in on EAT. Bank Of America (Bofa) lifted their price objective on Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. Raymond James downgraded shares of Brinker International from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. Piper Sandler increased their price objective on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Argus upgraded shares of Brinker International from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Tuesday, December 24th. Finally, BMO Capital Markets lowered Brinker International from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $80.00 to $105.00 in a research note on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.08.

Brinker International Stock Performance

EAT opened at $154.84 on Thursday. The company’s 50 day moving average is $134.01 and its 200 day moving average is $97.84. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 1.57 and a beta of 2.52. Brinker International has a 12-month low of $38.96 and a 12-month high of $155.13.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.26. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 EPS. On average, equities research analysts predict that Brinker International will post 5.96 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michaela M. Ware sold 3,753 shares of the company’s 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 approximately $2,376,774.42. This represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brinker International

A number of large investors have recently bought and sold shares of EAT. Wolff Wiese Magana LLC lifted its position in shares of Brinker International by 100.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Brinker International by 123.9% during the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 171 shares in the last quarter. R Squared Ltd bought a new stake in Brinker International during the 4th quarter valued at about $83,000. Xponance Inc. bought a new position in Brinker International in the 2nd quarter worth about $202,000. Finally, Burford Brothers Inc. purchased a new position in shares of Brinker International during the third quarter worth approximately $203,000.

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.