Citigroup Forecasts Strong Price Appreciation for Brinker International (NYSE:EAT) Stock

Brinker International (NYSE:EAT) had its price objective raised by research analysts at Citigroup from $166.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 1.67% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley upgraded shares of Brinker International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price objective on Brinker International from $162.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush raised their target price on Brinker International from $140.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI lifted their price target on Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a report on Tuesday, October 15th. Finally, Bank Of America (Bofa) increased their price objective on shares of Brinker International from $94.00 to $97.00 in a report on Tuesday, October 29th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.48.

Brinker International Price Performance

Shares of EAT stock opened at $181.97 on Thursday. The stock’s fifty day simple moving average is $139.29 and its 200 day simple moving average is $102.05. Brinker International has a one year low of $40.50 and a one year high of $187.08. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 0.97 and a beta of 2.52. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26.

Brinker International (NYSE:EAT) last issued its earnings results on Wednesday, January 29th. The restaurant operator reported $2.80 EPS for the quarter, beating the consensus estimate of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 16,722.22%. On average, analysts expect that Brinker International will post 7.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brinker International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EAT. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Brinker International in the 4th quarter valued at approximately $434,000. Truist Financial Corp bought a new position in shares of Brinker International during the fourth quarter worth $206,000. Ifrah Financial Services Inc. acquired a new position in shares of Brinker International in the 4th quarter valued at $280,000. Highview Capital Management LLC DE grew its holdings in shares of Brinker International by 1.6% in the 4th quarter. Highview Capital Management LLC DE now owns 13,557 shares of the restaurant operator’s stock valued at $1,793,000 after buying an additional 218 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Brinker International by 5.4% in the 4th quarter. Principal Financial Group Inc. now owns 287,456 shares of the restaurant operator’s stock valued at $38,028,000 after buying an additional 14,634 shares in the last quarter.

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.