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

Brinker International (NYSE:EAT) was upgraded by Argus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $150.00 price objective on the restaurant operator’s stock. Argus’ target price would suggest a potential upside of 9.34% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Citigroup lifted 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. Piper Sandler lifted their price target on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Bank of America upped their price target on Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded Brinker International from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $115.00 in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. downgraded Brinker International from an “overweight” rating to a “neutral” rating and upped their target price for the company from $67.00 to $100.00 in a report on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.53.

Brinker International Stock Performance

Shares of NYSE EAT opened at $137.19 on Tuesday. The stock’s fifty day simple moving average is $118.61 and its 200 day simple moving average is $87.68. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 1.46 and a beta of 2.51. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. Brinker International has a 52-week low of $37.25 and a 52-week high of $137.21.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts forecast that Brinker International will post 5.43 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 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 sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Brinker International

Several hedge funds have recently modified their holdings of the business. NorthCrest Asset Manangement LLC raised its stake in Brinker International by 1.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 135 shares during the last quarter. Optimist Retirement Group LLC raised its position in shares of Brinker International by 6.1% during the third quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock valued at $249,000 after buying an additional 187 shares during the last quarter. Arizona State Retirement System grew its position in Brinker International by 1.9% during the second quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock worth $896,000 after buying an additional 234 shares in the last quarter. Signaturefd LLC raised its holdings in Brinker International by 33.2% in the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after acquiring an additional 246 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Brinker International by 2.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 27,863 shares of the restaurant operator’s stock worth $2,132,000 after acquiring an additional 732 shares during the period.

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.