Brinker International (NYSE:EAT) Reaches New 1-Year High – Here’s Why

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets cut Brinker International from an “outperform” rating to a “market perform” rating and increased their price target for the company from $80.00 to $105.00 in a report on Thursday, October 31st. Bank Of America (Bofa) boosted their price objective on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Evercore ISI lifted their price target on Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a report on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Brinker International presently has an average rating of “Hold” and an average price target of $98.53.

Brinker International Price Performance

The stock has a market capitalization of $6.27 billion, a PE ratio of 34.42, a PEG ratio of 1.46 and a beta of 2.51. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. The company’s 50 day simple moving average is $124.48 and its 200 day simple moving average is $90.81.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS 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 analysts’ expectations 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 revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities analysts anticipate that Brinker International, Inc. will post 5.43 earnings per share for the current year.

Insider Activity

In related 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 value of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Brinker International by 123.9% in the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 171 shares in the last quarter. Quest Partners LLC grew its stake in Brinker International by 1,265.2% in the 2nd quarter. Quest Partners LLC now owns 1,884 shares of the restaurant operator’s stock valued at $136,000 after buying an additional 1,746 shares during the last quarter. Xponance Inc. acquired a new position in Brinker International in the 2nd quarter valued at about $202,000. Burford Brothers Inc. acquired a new stake in Brinker International during the third quarter worth approximately $203,000. Finally, Mackenzie Financial Corp acquired a new stake in Brinker International during the second quarter worth approximately $204,000.

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.