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

Brinker International, Inc. (NYSE:EAT)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $127.35 and last traded at $127.35, with a volume of 2612 shares traded. The stock had previously closed at $125.62.

Analyst Ratings Changes

Several analysts have weighed in on EAT shares. Wells Fargo & Company boosted their price objective on Brinker International from $85.00 to $95.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 4th. UBS Group boosted their price objective on shares of Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. BMO Capital Markets lowered shares of Brinker International from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $80.00 to $105.00 in a report on Thursday, October 31st. Finally, Wedbush restated a “neutral” rating and set a $68.00 price target on shares of Brinker International in a report on Thursday, August 15th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.45.

Brinker International Trading Down 0.3 %

The firm has a market capitalization of $5.80 billion, a PE ratio of 31.86, a P/E/G ratio of 1.39 and a beta of 2.46. The firm has a 50 day simple moving average of $96.52 and a 200 day simple moving average of $77.87. 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 announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Equities analysts expect that Brinker International, Inc. will post 5.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s 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 transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Brinker International by 2.5% in the first quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock worth $275,004,000 after buying an additional 135,580 shares during the period. Boston Partners raised its stake in Brinker International by 231.8% during the 1st quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after acquiring an additional 1,106,046 shares during the period. Marshall Wace LLP lifted its holdings in Brinker International by 13,850.1% during the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after purchasing an additional 1,049,836 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Brinker International by 0.8% in the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator’s stock worth $76,413,000 after purchasing an additional 8,105 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Brinker International by 31.7% in 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 in 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.