Brinker International (NYSE:EAT) Reaches New 12-Month High – Here’s What Happened

Shares of Brinker International, Inc. (NYSE:EAT) reached a new 52-week high on Tuesday . The company traded as high as $119.43 and last traded at $119.32, with a volume of 75305 shares changing hands. The stock had previously closed at $117.61.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EAT. Barclays lifted 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. Morgan Stanley upped their price objective on shares of Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. Argus lowered Brinker International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Bank Of America (Bofa) boosted their price target on Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lowered Brinker International from an “overweight” rating to a “neutral” rating and upped their price target for the company from $67.00 to $100.00 in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.45.

Brinker International Stock Up 1.2 %

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 has a market capitalization of $5.29 billion, a P/E ratio of 28.69, a PEG ratio of 1.27 and a beta of 2.46. The stock’s fifty day moving average is $86.24 and its two-hundred day moving average is $73.13.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Brinker International’s revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that Brinker International, Inc. will post 5.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Brinker International 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 sale, the chief financial officer now directly owns 23,071 shares in the company, valued at $2,376,774.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Brinker International

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Brinker International by 6.7% in the 1st quarter. BNP Paribas Financial Markets now owns 37,120 shares of the restaurant operator’s stock valued at $1,844,000 after purchasing an additional 2,343 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Brinker International by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,707 shares of the restaurant operator’s stock worth $1,923,000 after buying an additional 1,264 shares in the last quarter. Sei Investments Co. raised its stake in shares of Brinker International by 6.6% in the first quarter. Sei Investments Co. now owns 87,423 shares of the restaurant operator’s stock valued at $4,343,000 after acquiring an additional 5,410 shares during the last quarter. Headlands Technologies LLC bought a new stake in Brinker International during the 1st quarter worth approximately $47,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Brinker International by 5.4% during the first quarter. Russell Investments Group Ltd. now owns 20,640 shares of the restaurant operator’s stock worth $1,025,000 after purchasing an additional 1,049 shares during the last quarter.

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.