Brinker International (NYSE:EAT) Downgraded to “Market Perform” Rating by BMO Capital Markets

BMO Capital Markets cut shares of Brinker International (NYSE:EAT) from an outperform rating to a market perform rating in a research note published on Thursday, MarketBeat Ratings reports. The firm currently has $105.00 price objective on the restaurant operator’s stock, up from their prior price objective of $80.00.

Other research analysts have also issued research reports about the stock. KeyCorp raised their price objective on shares of Brinker International from $72.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wedbush restated a “neutral” rating and issued a $68.00 price target on shares of Brinker International in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on shares of Brinker International from $50.00 to $85.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Citigroup raised their target price on Brinker International from $69.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Barclays upped their price target on Brinker International from $66.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.19.

Brinker International Stock Performance

Shares of Brinker International stock opened at $104.92 on Thursday. The company’s 50 day moving average price is $81.21 and its two-hundred day moving average price is $70.15. The firm has a market capitalization of $4.66 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.44 and a beta of 2.46. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.32. Brinker International has a fifty-two week low of $33.03 and a fifty-two week high of $107.15.

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, topping analysts’ consensus estimates of $0.69 by $0.26. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. Brinker International’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. On average, equities analysts forecast that Brinker International will post 5.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of Brinker International stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EAT. Allspring Global Investments Holdings LLC increased its holdings in shares of Brinker International by 8.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,190 shares of the restaurant operator’s stock valued at $705,000 after acquiring an additional 1,111 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Brinker International by 6.7% during the first quarter. BNP Paribas Financial Markets now owns 37,120 shares of the restaurant operator’s stock worth $1,844,000 after buying an additional 2,343 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Brinker International in the first quarter valued at $50,000. Texas Permanent School Fund Corp grew its holdings in shares of Brinker International by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,707 shares of the restaurant operator’s stock valued at $1,923,000 after buying an additional 1,264 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Brinker International during the first quarter worth about $323,000.

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.