Brinker International (NYSE:EAT) Reaches New 52-Week High at $57.15

Brinker International, Inc. (NYSE:EAT)’s share price reached a new 52-week high on Monday . The company traded as high as $57.15 and last traded at $57.09, with a volume of 248686 shares. The stock had previously closed at $54.98.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EAT. Morgan Stanley boosted their price objective on Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Gordon Haskett upgraded Brinker International from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, January 16th. UBS Group boosted their price objective on shares of Brinker International from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Raymond James raised their target price on shares of Brinker International from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Finally, Stifel Nicolaus upped their price target on shares of Brinker International from $55.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.06.

Brinker International Stock Up 4.6 %

The company has a market cap of $2.56 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.73 and a beta of 2.42. The business’s 50 day moving average is $47.99 and its 200 day moving average is $42.45.

Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. Brinker International had a net margin of 3.55% and a negative return on equity of 154.29%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Brinker International’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Brinker International, Inc. will post 3.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EAT. SG Americas Securities LLC purchased a new stake in Brinker International in the third quarter valued at $691,000. Raymond James Financial Services Advisors Inc. acquired a new position in Brinker International in the third quarter valued at approximately $296,000. Allspring Global Investments Holdings LLC boosted its position in Brinker International by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,408 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 487 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of Brinker International by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, James Investment Research Inc. increased its holdings in shares of Brinker International by 14.3% during the 3rd quarter. James Investment Research Inc. now owns 22,333 shares of the restaurant operator’s stock valued at $705,000 after purchasing an additional 2,794 shares in the last quarter.

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.