Brinker International (NYSE:EAT) Cut to “Sector Weight” at KeyCorp

Brinker International (NYSE:EAT) was downgraded by equities researchers at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

Several other equities research analysts also recently commented on EAT. JPMorgan Chase & Co. downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $67.00 to $100.00 in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on Brinker International from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets cut Brinker International from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $80.00 to $105.00 in a research report on Thursday, October 31st. Piper Sandler increased their price target on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Brinker International in a report on Thursday, December 5th. They set a “buy” rating and a $150.00 price objective on the stock. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $109.08.

Brinker International Stock Up 1.5 %

Shares of NYSE EAT opened at $154.84 on Friday. The company’s 50 day moving average price is $134.01 and its 200-day moving average price is $97.84. Brinker International has a 52-week low of $38.96 and a 52-week high of $155.13. The company has a market capitalization of $6.88 billion, a P/E ratio of 37.77, a price-to-earnings-growth ratio of 1.57 and a beta of 2.52. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts forecast that Brinker International will post 5.96 earnings per share for the current year.

Insider Transactions at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s 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 transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Brinker International

Several institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its stake in Brinker International by 100.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Brinker International by 123.9% in the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after buying an additional 171 shares in the last quarter. R Squared Ltd bought a new position in shares of Brinker International in the fourth quarter valued at approximately $83,000. Xponance Inc. purchased a new position in Brinker International during the second quarter valued at approximately $202,000. Finally, Burford Brothers Inc. bought a new stake in Brinker International during the 3rd quarter worth approximately $203,000.

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.