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

Brinker International, Inc. (NYSE:EAT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $149.51 and last traded at $148.84, with a volume of 93043 shares. The stock had previously closed at $144.12.

Analyst Ratings Changes

EAT has been the topic of several recent analyst reports. Piper Sandler increased their target price on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Bank Of America (Bofa) upped their target price on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on shares of Brinker International in a research note on Thursday, December 5th. They issued a “buy” rating and a $150.00 price target for the company. Barclays increased their price objective on shares of Brinker International from $95.00 to $143.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th. Finally, Bank of America boosted their target price on shares of Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brinker International has a consensus rating of “Hold” and a consensus target price of $108.29.

Brinker International Stock Up 4.6 %

The stock has a market capitalization of $6.70 billion, a P/E ratio of 36.78, a P/E/G ratio of 1.47 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. The company’s 50-day moving average price is $131.87 and its 200 day moving average price is $96.47.

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

Insider Activity

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now directly owns 23,071 shares in the company, valued at $2,376,774.42. This represents a 13.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.72% of the company’s stock.

Institutional Trading of Brinker International

A number of hedge funds have recently added to or reduced their stakes in EAT. Principal Financial Group Inc. boosted its position in Brinker International by 23.5% during the third quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock valued at $20,879,000 after purchasing an additional 51,927 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Brinker International in the 3rd quarter worth approximately $5,330,000. Intech Investment Management LLC raised its stake in shares of Brinker International by 399.9% during the 3rd quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock worth $1,845,000 after acquiring an additional 19,281 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in Brinker International during the third quarter valued at approximately $941,000. Finally, Janney Montgomery Scott LLC purchased a new position in Brinker International in the third quarter worth $2,273,000.

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.