Brinker International Stock Rating Upgraded by Zacks (EAT)
Brinker International (NYSE:EAT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has a $55.00 price target on the stock. Zacks‘ price objective suggests a potential upside of 20.64% from the stock’s previous close.
Zacks‘ analyst wrote, “We are upgrading our recommendation on Brinker from Neutral to Outperform based on its strong growth prospects. Although Brinker’s first-quarter fiscal 2014 was not that strong, we believe that the company s sales-building initiatives should boost growth in future quarters. Brinker has recorded higher margin in each of the past five quarters, driven by its cost saving efforts. Brinker has undertaken a set of initiatives including online ordering, menu innovation, effective marketing strategy and integrated POS system will reinvigorate its brands. Aggressive expansion as well as extensive reimaging is also on the cards. Brinker s prototype Maggiano’s unit will help augmenting its growth in non-traditional locations and also improve return on invested capital. Overall, we are encouraged by Brinker’s strong brand position, menu innovation and decent unit-level execution. “
Shares of Brinker International (NYSE:EAT) traded down 0.39% during mid-day trading on Friday, hitting $45.41. 607,432 shares of the company’s stock traded hands. Brinker International has a 52 week low of $30.85 and a 52 week high of $47.86. The stock’s 50-day moving average is $46.21 and its 200-day moving average is $42.36. The company has a market cap of $3.044 billion and a P/E ratio of 20.01.
Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. The company had revenue of $683.92 million for the quarter, compared to the consensus estimate of $685.85 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis.
EAT has been the subject of a number of other recent research reports. Analysts at Ned Davis Research downgraded shares of Brinker International from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 23rd. Separately, analysts at Miller Tabak raised their price target on shares of Brinker International from $47.00 to $50.00 in a research note to investors on Tuesday, December 10th. They now have a “buy” rating on the stock. Finally, analysts at KeyCorp raised their price target on shares of Brinker International from $45.00 to $50.00 in a research note to investors on Tuesday, November 12th. They now have a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.00.
Brinker International, Inc (NYSE:EAT) owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands.
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