Brinker International (NYSE:EAT) Rating Increased to Buy at Argus

Brinker International (NYSE:EAT) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Tuesday,Briefing.com Automated Import reports. The firm presently has a $150.00 target price on the restaurant operator’s stock. Argus’ target price suggests a potential upside of 12.71% from the company’s current price.

EAT has been the subject of a number of other reports. Barclays increased their price objective on Brinker International from $76.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. The Goldman Sachs Group initiated coverage on shares of Brinker International in a research report on Thursday, December 5th. They set a “buy” rating and a $150.00 target price for the company. Citigroup increased their price objective on shares of Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $70.00 to $115.00 in a report on Friday. Finally, KeyCorp increased their price target on Brinker International from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.53.

Brinker International Price Performance

Shares of NYSE EAT opened at $133.09 on Tuesday. The business’s 50 day moving average is $116.73 and its 200-day moving average is $86.85. The firm has a market cap of $5.91 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 1.46 and a beta of 2.51. Brinker International has a 1-year low of $37.25 and a 1-year high of $136.15. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $0.28 EPS. Brinker International’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts predict that Brinker International will post 5.43 earnings per share for the current year.

Insider Buying and Selling at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares in the company, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Brinker International

Institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its holdings in Brinker International by 13,850.1% during the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after acquiring an additional 1,049,836 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Brinker International by 0.8% during the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator’s stock valued at $76,413,000 after purchasing an additional 8,105 shares in the last quarter. Millennium Management LLC boosted its holdings in Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after purchasing an additional 227,047 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Brinker International by 4.3% during the third quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator’s stock worth $52,900,000 after purchasing an additional 28,373 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after purchasing an additional 219,836 shares in 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.