Brinker International (NYSE:EAT) Hits New 12-Month High – What’s Next?

Brinker International, Inc. (NYSE:EAT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $133.83 and last traded at $133.77, with a volume of 1053608 shares changing hands. The stock had previously closed at $132.36.

Analysts Set New Price Targets

Several research firms recently issued reports on EAT. JPMorgan Chase & Co. lowered shares of Brinker International from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $67.00 to $100.00 in a research note on Thursday, October 31st. The Goldman Sachs Group initiated coverage on Brinker International in a report on Thursday, December 5th. They set a “buy” rating and a $150.00 price target on the stock. Citigroup raised their target price on shares of Brinker International from $83.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets lowered Brinker International from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $80.00 to $105.00 in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upgraded Brinker International from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $95.00 to $130.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.38.

Brinker International Stock Up 3.1 %

The stock has a market cap of $5.83 billion, a P/E ratio of 32.03, a PEG ratio of 1.46 and a beta of 2.51. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. The firm’s 50-day moving average is $114.81 and its two-hundred day moving average is $85.79.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 839.19% and a net margin of 4.11%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Brinker International, Inc. will post 5.43 earnings per share for the current year.

Insiders Place Their Bets

In related 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 sale, the chief financial officer now directly owns 23,071 shares in the company, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Brinker International

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP raised its position in Brinker International by 13,850.1% during the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after acquiring an additional 1,049,836 shares in the last quarter. Millennium Management LLC raised its stake in 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 purchasing an additional 227,047 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock valued at $47,351,000 after purchasing an additional 219,836 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Brinker International during the third quarter worth approximately $14,611,000. Finally, Squarepoint Ops LLC raised its position in shares of Brinker International by 1,160.2% in the second quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock valued at $13,918,000 after buying an additional 177,011 shares in the last quarter.

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.