Brinker International (NYSE:EAT) Sets New 12-Month High – What’s Next?

Brinker International, Inc. (NYSE:EAT) hit a new 52-week high on Thursday . The stock traded as high as $138.60 and last traded at $138.02, with a volume of 222203 shares changing hands. The stock had previously closed at $132.29.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EAT shares. Bank Of America (Bofa) upped their price target on shares of Brinker International from $94.00 to $97.00 in a report on Tuesday, October 29th. Stifel Nicolaus boosted their target price on Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group began coverage on shares of Brinker International in a research note on Thursday, December 5th. They issued a “buy” rating and a $150.00 price target on the stock. BMO Capital Markets downgraded shares of Brinker International from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $80.00 to $105.00 in a research note on Thursday, October 31st. Finally, Bank of America boosted their target price on shares of Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $98.53.

Brinker International Stock Performance

The stock’s 50 day moving average price is $124.48 and its 200 day moving average price is $90.81. The company has a market capitalization of $6.27 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 1.46 and a beta of 2.51. 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 (NYSE:EAT) last announced its quarterly earnings data 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. As a group, equities analysts expect that Brinker International, Inc. will post 5.43 EPS for the current year.

Insider Activity at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This represents a 13.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company. Marshall Wace LLP raised its stake in shares of Brinker International by 13,850.1% in the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after purchasing an additional 1,049,836 shares during the last quarter. Millennium Management LLC raised its stake in shares of Brinker International by 31.7% during the 2nd 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 period. Wellington Management Group LLP increased its holdings in Brinker International by 55.1% during the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after buying an additional 219,836 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Brinker International in the third quarter worth about $14,611,000. Finally, Squarepoint Ops LLC grew its position in shares of Brinker International by 1,160.2% during the 2nd quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock valued at $13,918,000 after acquiring an additional 177,011 shares during the period.

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.