Brinker International (NYSE:EAT) Reaches New 52-Week High – Time to Buy?

Shares of Brinker International, Inc. (NYSE:EAT) reached a new 52-week high during trading on Tuesday . The company traded as high as $136.45 and last traded at $136.25, with a volume of 92522 shares. The stock had previously closed at $133.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EAT shares. Stifel Nicolaus increased their price target on shares of Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. downgraded Brinker International from an “overweight” rating to a “neutral” rating and raised their price target for the company from $67.00 to $100.00 in a research report on Thursday, October 31st. Barclays upped their price objective on Brinker International from $76.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, UBS Group boosted their target price on Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Brinker International presently has an average rating of “Hold” and an average target price of $98.53.

Brinker International Trading Up 3.1 %

The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The firm’s 50 day moving average price is $118.61 and its 200 day moving average price is $87.68. The stock has a market capitalization of $6.10 billion, a P/E ratio of 33.46, a P/E/G ratio of 1.46 and a beta of 2.51.

Brinker International (NYSE:EAT) last released its quarterly earnings results 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 business had revenue of $1.14 billion during 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 prior year, the company posted $0.28 EPS. As a group, equities research analysts expect that Brinker International, Inc. will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Brinker International

Large investors have recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of 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 worth $76,546,000 after acquiring an additional 1,049,836 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 in the last quarter. Millennium Management LLC lifted its position in Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after buying an additional 227,047 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Brinker International by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator’s stock valued at $52,900,000 after buying an additional 28,373 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Brinker International by 55.1% in the 3rd 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 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.