Brinker International (NYSE:EAT) Hits New 52-Week High – Here’s What Happened

Brinker International, Inc. (NYSE:EAT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $136.45 and last traded at $136.25, with a volume of 92522 shares changing hands. The stock had previously closed at $133.09.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EAT. Argus upgraded shares of Brinker International from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Tuesday. Citigroup upped their price objective on shares of Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays boosted their price target on Brinker International from $76.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. KeyCorp increased their price objective on Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $98.53.

Brinker International Price Performance

The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.46 and a beta of 2.51. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The stock’s 50 day simple moving average is $116.73 and its two-hundred day simple moving average is $86.85.

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, topping the consensus estimate of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts forecast that Brinker International, Inc. will post 5.43 earnings per share for the current fiscal year.

Insider Transactions at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of Brinker International 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 owns 23,071 shares in the company, valued at approximately $2,376,774.42. The trade was a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Brinker International

Large investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares in the last quarter. Quest Partners LLC raised its position in shares of Brinker International by 1,265.2% during the second quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 1,746 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Brinker International during the second quarter valued at $166,000. Burford Brothers Inc. bought a new position in Brinker International in the third quarter valued at about $203,000. Finally, Parametrica Management Ltd acquired a new stake in Brinker International in the third quarter worth about $209,000.

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.