Barclays Issues Positive Forecast for Brinker International (NYSE:EAT) Stock Price

Brinker International (NYSE:EAT) had its price target boosted by Barclays from $143.00 to $150.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price objective suggests a potential downside of 3.13% from the company’s previous close.

EAT has been the topic of a number of other reports. The Goldman Sachs Group initiated coverage on shares of Brinker International in a research report on Thursday, December 5th. They issued a “buy” rating and a $150.00 price objective on the stock. Morgan Stanley upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $70.00 to $115.00 in a research report on Friday, December 20th. Argus raised 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 report on Tuesday, December 24th. JPMorgan Chase & Co. cut Brinker International from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $67.00 to $100.00 in a research note on Thursday, October 31st. Finally, Citigroup raised their target price on shares of Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $109.45.

Brinker International Price Performance

EAT opened at $154.84 on Friday. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 1.56 and a beta of 2.52. 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 stock’s 50-day moving average price is $134.01 and its 200 day moving average price is $97.84. Brinker International has a 12-month low of $38.96 and a 12-month high of $155.13.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $1.14 billion during 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 business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, sell-side analysts expect that Brinker International will post 5.96 earnings per share for the current year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Brinker International by 23.5% in the 3rd quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock worth $20,879,000 after buying an additional 51,927 shares in the last quarter. Empowered Funds LLC acquired a new stake in Brinker International during the 3rd quarter valued at approximately $5,330,000. Intech Investment Management LLC increased its stake in shares of Brinker International by 399.9% in the third quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock worth $1,845,000 after buying an additional 19,281 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Brinker International in the 3rd quarter valued at approximately $941,000. Finally, Janney Montgomery Scott LLC acquired a new position in Brinker International in the third quarter valued at approximately $2,273,000.

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.