Brinker International (NYSE:EAT) Shares Gap Down – Here’s Why

Brinker International, Inc. (NYSE:EAT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $154.52, but opened at $151.07. Brinker International shares last traded at $149.28, with a volume of 169,834 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. cut Brinker International from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $67.00 to $100.00 in a report on Thursday, October 31st. Evercore ISI boosted their target price on Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a report on Tuesday, October 15th. Citigroup increased their price target on Brinker International from $83.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price objective on Brinker International from $120.00 to $155.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Barclays increased their price target on Brinker International from $143.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Brinker International presently has a consensus rating of “Hold” and an average price target of $109.45.

Brinker International Stock Performance

The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 1.56 and a beta of 2.52. The company has a 50 day simple moving average of $134.65 and a 200-day simple moving average of $98.62. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT) last posted its quarterly earnings results 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 net margin of 4.11% and a negative return on equity of 839.19%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Brinker International, Inc. will post 5.96 EPS for the current fiscal year.

Insider Activity at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total transaction of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. The trade was a 13.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC lifted its stake in Brinker International by 100.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Brinker International by 123.9% during the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 171 shares in the last quarter. R Squared Ltd purchased a new position in Brinker International during the fourth quarter worth about $83,000. Xponance Inc. bought a new stake in Brinker International in the 2nd quarter worth about $202,000. Finally, Burford Brothers Inc. purchased a new stake in Brinker International in the 3rd quarter valued at about $203,000.

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.