Wells Fargo & Company Increases Brinker International (NYSE:EAT) Price Target to $85.00

Brinker International (NYSE:EAT) had its price objective hoisted by research analysts at Wells Fargo & Company from $50.00 to $85.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 8.52% from the company’s previous close.

Other research analysts have also issued reports about the stock. Argus lowered shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their target price on shares of Brinker International from $62.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI raised their price target on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 15th. KeyCorp raised their price target on shares of Brinker International from $72.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Citigroup raised their price target on shares of Brinker International from $69.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.62.

Brinker International Stock Down 0.8 %

Brinker International stock opened at $92.92 on Monday. Brinker International has a 1-year low of $31.95 and a 1-year high of $94.39. The firm’s fifty day simple moving average is $75.76 and its 200-day simple moving average is $67.05. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 19.96. The company has a market capitalization of $4.13 billion, a P/E ratio of 27.57, a P/E/G ratio of 1.35 and a beta of 2.51.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Brinker International will post 4.66 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 made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Brinker International by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator’s stock valued at $967,000 after purchasing an additional 169 shares during the last quarter. CWM LLC lifted its holdings in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 204 shares during the last quarter. Arizona State Retirement System lifted its holdings in Brinker International by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock valued at $896,000 after purchasing an additional 234 shares during the last quarter. Signaturefd LLC lifted its holdings in Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new position in Brinker International during the 1st quarter valued at about $25,000.

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.