Brinker International (NYSE:EAT) Shares Gap Down to $70.40

Shares of Brinker International, Inc. (NYSE:EAT) gapped down before the market opened on Wednesday . The stock had previously closed at $70.40, but opened at $60.60. Brinker International shares last traded at $60.30, with a volume of 2,125,312 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EAT shares. Stifel Nicolaus lifted their price target on shares of Brinker International from $62.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Bank of America increased their price target on shares of Brinker International from $51.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on Brinker International from $47.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. BMO Capital Markets upped their price objective on Brinker International from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Raymond James lowered Brinker International from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $62.00 to $82.50 in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.34.

Brinker International Stock Down 11.9 %

The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 0.63 and a beta of 2.52. The company’s 50-day simple moving average is $67.60 and its 200-day simple moving average is $56.89.

Insider Transactions at Brinker International

In related news, COO Douglas N. Comings sold 10,000 shares of Brinker International stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total value of $683,100.00. Following the transaction, the chief operating officer now owns 38,164 shares of the company’s stock, valued at approximately $2,606,982.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Douglas N. Comings sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $68.31, for a total transaction of $683,100.00. Following the sale, the chief operating officer now owns 38,164 shares in the company, valued at $2,606,982.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Prashant Ranade sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $62.47, for a total transaction of $68,717.00. Following the completion of the sale, the director now owns 17,039 shares of the company’s stock, valued at approximately $1,064,426.33. The disclosure for this sale can be found here. Insiders sold a total of 17,664 shares of company stock valued at $1,216,601 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Brinker International

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Brinker International by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 169 shares during the period. CWM LLC boosted its stake in shares of Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 204 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Brinker International by 1.3% during the 4th quarter. Victory Capital Management Inc. now owns 17,318 shares of the restaurant operator’s stock valued at $748,000 after acquiring an additional 230 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Brinker International by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock valued at $896,000 after acquiring an additional 234 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Brinker International by 12.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,070 shares of the restaurant operator’s stock worth $89,000 after acquiring an additional 235 shares during the last quarter.

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.