Brinker International (NYSE:EAT) Stock Rating Lowered by KeyCorp

Brinker International (NYSE:EAT) was downgraded by investment analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $115.00 price target on the restaurant operator’s stock. KeyCorp’s price objective would indicate a potential downside of 23.15% from the company’s previous close.

EAT has been the subject of several other research reports. Stifel Nicolaus increased their price objective on shares of Brinker International from $120.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Bank Of America (Bofa) raised their price target on shares of Brinker International from $94.00 to $97.00 in a report on Tuesday, October 29th. Barclays boosted their price objective on shares of Brinker International from $95.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Morgan Stanley upgraded Brinker International from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $115.00 in a research note on Friday, December 20th. Finally, Evercore ISI boosted their price target on Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 15th. Sixteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $109.45.

Brinker International Stock Performance

Shares of EAT stock opened at $149.63 on Friday. 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 has a market cap of $6.65 billion, a PE ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 2.52. The company’s fifty day simple moving average is $134.65 and its 200-day simple moving average is $98.62. Brinker International has a 52 week low of $39.11 and a 52 week high of $155.13.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts anticipate that Brinker International will post 5.96 EPS for the current year.

Insider Transactions at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction of $386,634.06. Following the sale, the chief financial officer now directly owns 23,071 shares in the company, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Brinker International by 28.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,758 shares of the restaurant operator’s stock valued at $489,000 after acquiring an additional 1,485 shares during the period. Intech Investment Management LLC acquired a new position in Brinker International during the 2nd quarter valued at about $349,000. Evergreen Capital Management LLC bought a new position in Brinker International in the 2nd quarter worth about $231,000. Bank of Montreal Can increased its stake in shares of Brinker International by 26.7% in the second quarter. Bank of Montreal Can now owns 7,378 shares of the restaurant operator’s stock valued at $548,000 after purchasing an additional 1,557 shares during the period. Finally, Xponance Inc. bought a new stake in shares of Brinker International during the second quarter valued at approximately $202,000.

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.