Brinker International (NYSE:EAT) Stock Rating Upgraded by Morgan Stanley

Brinker International (NYSE:EAT) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $115.00 price target on the restaurant operator’s stock, up from their previous price target of $70.00. Morgan Stanley’s price target indicates a potential downside of 14.35% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Bank Of America (Bofa) raised their target price on Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on Brinker International in a research note on Thursday, December 5th. They issued a “buy” rating and a $150.00 price objective on the stock. KeyCorp increased their target price on shares of Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Brinker International from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $67.00 to $100.00 in a research report on Thursday, October 31st. Finally, Argus cut shares of Brinker International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Brinker International currently has an average rating of “Hold” and a consensus price target of $94.63.

Brinker International Trading Up 2.2 %

NYSE EAT opened at $134.26 on Friday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 1.46 and a beta of 2.51. Brinker International has a twelve month low of $37.25 and a twelve month high of $136.15. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The business’s fifty day moving average is $115.82 and its 200 day moving average is $86.23.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Brinker International will post 5.43 EPS for the current fiscal year.

Insider Buying and Selling at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 13.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC purchased a new position in Brinker International in the third quarter valued at about $5,330,000. Intech Investment Management LLC increased its position in Brinker International by 399.9% in the third quarter. Intech Investment Management LLC now owns 24,102 shares of the restaurant operator’s stock worth $1,845,000 after buying an additional 19,281 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Brinker International in the third quarter valued at $941,000. Principal Financial Group Inc. lifted its position in shares of Brinker International by 23.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,822 shares of the restaurant operator’s stock valued at $20,879,000 after buying an additional 51,927 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Brinker International during the 3rd quarter worth $2,273,000.

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.