Brinker International (NYSE:EAT) Shares Gap Up After Analyst Upgrade

Brinker International, Inc. (NYSE:EAT) gapped up prior to trading on Wednesday after Bank Of America (Bofa) raised their price target on the stock from $94.00 to $97.00. The stock had previously closed at $97.01, but opened at $104.00. Brinker International shares last traded at $103.51, with a volume of 400,840 shares trading hands.

EAT has been the topic of several other reports. Bank of America raised their price target on shares of Brinker International from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. Barclays increased their price target on Brinker International from $66.00 to $76.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Raymond James downgraded Brinker International from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets dropped their target price on Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Brinker International has a consensus rating of “Hold” and an average price target of $75.86.

Hedge Funds Weigh In On Brinker International

Several hedge funds have recently bought and sold shares of EAT. Transcendent Capital Group LLC purchased a new stake in Brinker International during the first quarter worth about $25,000. 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 worth $30,000 after buying an additional 204 shares during the period. Headlands Technologies LLC acquired a new stake in Brinker International during the 1st quarter worth approximately $47,000. Hollencrest Capital Management purchased a new position in Brinker International in the 1st quarter valued at approximately $50,000. Finally, Covestor Ltd grew its stake in shares of Brinker International by 32,500.0% in the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock worth $65,000 after acquiring an additional 1,300 shares in the last quarter.

Brinker International Stock Up 6.7 %

The firm has a market cap of $4.61 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51. The business has a 50-day moving average price of $79.16 and a two-hundred day moving average price of $69.09. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 19.96.

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

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.