Brinker International (NYSE:EAT) Reaches New 1-Year High After Analyst Upgrade

Brinker International, Inc. (NYSE:EAT)’s share price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $90.00 to $94.00. Bank of America currently has a neutral rating on the stock. Brinker International traded as high as $93.93 and last traded at $93.91, with a volume of 723619 shares traded. The stock had previously closed at $92.46.

A number of other brokerages have also weighed in on EAT. Argus lowered shares of Brinker International from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Raymond James downgraded shares of Brinker International from an “outperform” rating to a “market perform” rating in a report on Thursday. Barclays boosted their target price on shares of Brinker International from $53.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. UBS Group boosted their target price on shares of Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets cut their price target on Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.03.

Institutional Trading of Brinker International

A number of hedge funds have recently bought and sold shares of EAT. Boston Partners grew its position in shares of Brinker International by 231.8% in the first quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock valued at $78,602,000 after purchasing an additional 1,106,046 shares in the last quarter. Marshall Wace LLP grew its holdings in Brinker International by 13,850.1% in the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after buying an additional 1,049,836 shares in the last quarter. Millennium Management LLC increased its stake in shares of Brinker International by 31.7% in the 2nd quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after acquiring an additional 227,047 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Brinker International by 1,686.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 192,972 shares of the restaurant operator’s stock worth $13,969,000 after acquiring an additional 182,172 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Brinker International by 1,160.2% during the 2nd quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock valued at $13,918,000 after acquiring an additional 177,011 shares during the last quarter.

Brinker International Price Performance

The stock has a market cap of $4.18 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51. The stock’s fifty day moving average is $75.25 and its 200-day moving average is $66.72. The company has a debt-to-equity ratio of 19.96, a current ratio of 0.38 and a quick ratio of 0.32.

Brinker International (NYSE:EAT) last announced its quarterly 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 negative return on equity of 274.62% and a net margin of 3.52%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.39 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Brinker International, Inc. will post 4.66 EPS for the current year.

Brinker International Company Profile

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.