Barclays PLC Cuts Brinker International, Inc. (EAT) Price Target to $44.00
Brinker International, Inc. (NYSE:EAT) had its price target lowered by investment analysts at Barclays PLC from $47.00 to $44.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Barclays PLC’s price target would suggest a potential upside of 21.65% from the stock’s previous close.
Several other research firms also recently weighed in on EAT. Telsey Advisory Group dropped their target price on shares of Brinker International from $49.00 to $40.00 and set a “market perform” rating for the company in a report on Monday. Zacks Investment Research downgraded shares of Brinker International from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BMO Capital Markets upgraded shares of Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 target price for the company in a report on Thursday, June 22nd. Maxim Group reiterated a “buy” rating and issued a $54.00 target price on shares of Brinker International in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $48.00 to $44.00 in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $47.92.
Shares of Brinker International (NYSE EAT) traded down 0.88% on Wednesday, hitting $35.85. The company’s stock had a trading volume of 697,392 shares. Brinker International has a one year low of $35.80 and a one year high of $55.84. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 11.71 and a beta of 0.27. The stock has a 50-day moving average price of $38.58 and a 200 day moving average price of $42.44.
Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, April 25th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.09. The business had revenue of $810.60 million during the quarter, compared to the consensus estimate of $817.50 million. Brinker International had a net margin of 5.05% and a negative return on equity of 39.89%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. Equities research analysts predict that Brinker International will post $3.15 EPS for the current year.
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In other Brinker International news, EVP Steve Provost sold 2,750 shares of Brinker International stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $44.06, for a total value of $121,165.00. Following the transaction, the executive vice president now directly owns 29,780 shares in the company, valued at $1,312,106.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David Roy Doyle sold 7,182 shares of Brinker International stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $44.41, for a total transaction of $318,952.62. Following the completion of the transaction, the senior vice president now owns 54,074 shares in the company, valued at $2,401,426.34. The disclosure for this sale can be found here. 1.76% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in Brinker International by 18.7% in the first quarter. LS Investment Advisors LLC now owns 4,107 shares of the restaurant operator’s stock worth $181,000 after buying an additional 647 shares in the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in Brinker International by 0.4% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 4,864 shares of the restaurant operator’s stock worth $214,000 after buying an additional 17 shares in the last quarter. Eqis Capital Management Inc. raised its position in Brinker International by 0.3% in the first quarter. Eqis Capital Management Inc. now owns 6,393 shares of the restaurant operator’s stock worth $281,000 after buying an additional 18 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in Brinker International during the first quarter worth approximately $286,000. Finally, Creative Planning raised its position in Brinker International by 2.7% in the first quarter. Creative Planning now owns 6,843 shares of the restaurant operator’s stock worth $301,000 after buying an additional 180 shares in the last quarter.
Brinker International Company Profile
Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.
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