Brinker International (NYSE:EAT) Upgraded to “Positive” at OTR Global

OTR Global upgraded shares of Brinker International (NYSE:EAT) to a positive rating in a research note released on Wednesday morning, The Fly reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus increased their price objective on Brinker International from $40.00 to $55.00 and gave the company a buy rating in a research report on Tuesday, September 8th. Evercore ISI upgraded Brinker International from an in-line rating to an outperform rating and increased their price objective for the company from $32.00 to $35.00 in a research report on Friday, August 7th. Gordon Haskett upgraded Brinker International from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research report on Thursday, August 13th. Wells Fargo & Company increased their price objective on Brinker International from $31.00 to $39.00 and gave the company an equal weight rating in a research report on Thursday, August 13th. Finally, Telsey Advisory Group increased their price objective on Brinker International from $36.00 to $42.00 and gave the company an outperform rating in a research report on Tuesday, August 18th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $43.74.

NYSE:EAT opened at $47.13 on Wednesday. The business’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $29.11. Brinker International has a twelve month low of $7.00 and a twelve month high of $50.43. The stock has a market cap of $2.13 billion, a P/E ratio of 64.56, a PEG ratio of 1.72 and a beta of 2.54.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.59. The firm had revenue of $563.20 million for the quarter, compared to analyst estimates of $558.03 million. Brinker International had a negative return on equity of 12.07% and a net margin of 0.80%. As a group, equities analysts expect that Brinker International will post 2.09 earnings per share for the current fiscal year.

In related news, CEO Wyman Roberts sold 12,879 shares of Brinker International stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $36.96, for a total value of $476,007.84. Following the completion of the sale, the chief executive officer now owns 172,964 shares of the company’s stock, valued at $6,392,749.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michaela M. Ware sold 1,100 shares of Brinker International stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $45.11, for a total value of $49,621.00. Following the completion of the sale, the vice president now directly owns 14,260 shares of the company’s stock, valued at approximately $643,268.60. The disclosure for this sale can be found here. Insiders sold 85,766 shares of company stock valued at $3,765,469 in the last ninety days. 3.72% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of EAT. Amundi Pioneer Asset Management Inc. grew its holdings in Brinker International by 2.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock valued at $22,409,000 after purchasing an additional 10,023 shares during the period. Victory Capital Management Inc. grew its holdings in Brinker International by 3.3% during the first quarter. Victory Capital Management Inc. now owns 41,120 shares of the restaurant operator’s stock valued at $494,000 after purchasing an additional 1,308 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Brinker International by 58.4% during the first quarter. BNP Paribas Arbitrage SA now owns 54,172 shares of the restaurant operator’s stock valued at $651,000 after purchasing an additional 19,979 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Brinker International by 87.6% during the first quarter. Parametric Portfolio Associates LLC now owns 599,447 shares of the restaurant operator’s stock valued at $7,199,000 after purchasing an additional 279,937 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Brinker International by 12.4% during the first quarter. Nuveen Asset Management LLC now owns 175,331 shares of the restaurant operator’s stock valued at $2,106,000 after purchasing an additional 19,284 shares during the period. 97.19% of the stock is owned by institutional investors.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

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