Wells Fargo & Company Boosts Brinker International (NYSE:EAT) Price Target to $145.00

Brinker International (NYSE:EAT) had its price objective increased by investment analysts at Wells Fargo & Company from $130.00 to $145.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 3.10% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Raymond James lowered Brinker International from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. UBS Group boosted their target price on shares of Brinker International from $108.00 to $146.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. The Goldman Sachs Group assumed coverage on shares of Brinker International in a report on Thursday, December 5th. They set a “buy” rating and a $150.00 price target for the company. Bank of America upped their price objective on Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI raised their target price on Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 15th. Sixteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.45.

Brinker International Stock Down 3.2 %

Shares of NYSE EAT opened at $149.63 on Thursday. The stock has a market cap of $6.65 billion, a PE ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 2.52. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. Brinker International has a 12-month low of $39.11 and a 12-month high of $155.13. The company has a 50-day moving average of $134.65 and a 200 day moving average of $98.39.

Brinker International (NYSE:EAT) last posted its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Brinker International will post 5.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the transaction, 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 13.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Brinker International by 28.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,758 shares of the restaurant operator’s stock valued at $489,000 after purchasing an additional 1,485 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Brinker International in the second quarter valued at $349,000. Evergreen Capital Management LLC purchased a new stake in Brinker International during the 2nd quarter worth about $231,000. Bank of Montreal Can boosted its position in shares of Brinker International by 26.7% during the 2nd quarter. Bank of Montreal Can now owns 7,378 shares of the restaurant operator’s stock worth $548,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Xponance Inc. purchased a new position in shares of Brinker International in the 2nd quarter valued at about $202,000.

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.