Brinker International (NYSE:EAT) Price Target Raised to $149.00 at Morgan Stanley

Brinker International (NYSE:EAT) had its price objective boosted by research analysts at Morgan Stanley from $144.00 to $149.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price target would suggest a potential downside of 9.37% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Barclays decreased their price objective on Brinker International from $165.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Brinker International from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. Citigroup lowered their price objective on shares of Brinker International from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on shares of Brinker International from $165.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus upped their target price on shares of Brinker International from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.41.

Brinker International Stock Down 0.6%

EAT opened at $164.40 on Monday. The firm has a 50-day simple moving average of $166.89 and a two-hundred day simple moving average of $156.00. Brinker International has a 52 week low of $56.27 and a 52 week high of $192.22. The company has a market capitalization of $7.31 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 0.43 and a beta of 1.70. The company has a quick ratio of 0.23, a current ratio of 0.28 and a debt-to-equity ratio of 2.00.

Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.18. Brinker International had a return on equity of 333.03% and a net margin of 6.50%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. Analysts forecast that Brinker International will post 8.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joseph Michael Depinto sold 10,000 shares of Brinker International stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total transaction of $1,703,600.00. Following the completion of the sale, the director directly owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramona Hood sold 777 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the sale, the director directly owned 8,568 shares of the company’s stock, valued at $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,127 shares of company stock valued at $2,128,062. 1.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EAT. Sequoia Financial Advisors LLC purchased a new position in shares of Brinker International during the first quarter worth approximately $206,000. Range Financial Group LLC bought a new position in Brinker International in the first quarter worth approximately $1,036,000. PNC Financial Services Group Inc. grew its stake in Brinker International by 93.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,164 shares of the restaurant operator’s stock worth $948,000 after purchasing an additional 3,470 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Brinker International during the 1st quarter worth $492,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Brinker International during the 1st quarter valued at $565,000.

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.