Brinker International (NYSE:EAT) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Brinker International (NYSE:EAT) from an underweight rating to an equal weight rating in a research note released on Thursday morning, MarketBeat.com reports. Wells Fargo & Company currently has $130.00 price target on the restaurant operator’s stock, up from their prior price target of $95.00.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group began coverage on Brinker International in a research note on Thursday, December 5th. They issued a “buy” rating and a $150.00 price objective on the stock. Piper Sandler raised their target price on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Argus lowered Brinker International from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. UBS Group raised their target price on Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Bank Of America (Bofa) raised their target price on Brinker International from $94.00 to $97.00 in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brinker International currently has a consensus rating of “Hold” and an average price target of $91.38.

Brinker International Stock Up 0.3 %

Shares of EAT stock opened at $127.85 on Thursday. The stock’s 50 day simple moving average is $110.96 and its 200 day simple moving average is $84.19. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. Brinker International has a twelve month low of $37.25 and a twelve month high of $133.82. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.46 and a beta of 2.51.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that Brinker International will post 5.43 EPS for the current year.

Insider Activity at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. The trade was a 13.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is owned by insiders.

Institutional Trading of Brinker International

Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its stake in Brinker International by 13,850.1% in the 2nd quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after buying an additional 1,049,836 shares in the last quarter. Geode Capital Management LLC raised its position in Brinker International by 0.8% in the 3rd 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 during the last quarter. Millennium Management LLC raised its position in Brinker International by 31.7% in the 2nd quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after purchasing an additional 227,047 shares during the last quarter. Fisher Asset Management LLC raised its position in Brinker International by 4.3% in the 3rd quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator’s stock valued at $52,900,000 after purchasing an additional 28,373 shares during the last quarter. Finally, Wellington Management Group LLP raised 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 valued at $47,351,000 after purchasing an additional 219,836 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.