Wells Fargo & Company Issues Positive Forecast for Brinker International (NYSE:EAT) Stock Price

Brinker International (NYSE:EAT) had its target price hoisted by Wells Fargo & Company from $85.00 to $95.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the restaurant operator’s stock.

A number of other equities analysts also recently weighed in on EAT. Argus downgraded shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Citigroup boosted their target price on Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. Bank Of America (Bofa) increased their target price on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. KeyCorp lifted their price target on Brinker International from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered shares of Brinker International from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $67.00 to $100.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Brinker International presently has an average rating of “Hold” and a consensus target price of $84.19.

Brinker International Trading Up 2.2 %

NYSE EAT opened at $104.92 on Thursday. The firm has a market capitalization of $4.66 billion, a PE ratio of 25.59, a P/E/G ratio of 1.44 and a beta of 2.46. The stock’s 50 day moving average is $81.21 and its 200 day moving average is $70.15. Brinker International has a twelve month low of $33.03 and a twelve month high of $107.15. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. Research analysts forecast that Brinker International will post 5.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at $2,376,774.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EAT. NorthCrest Asset Manangement LLC raised its stake in Brinker International by 1.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 135 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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 grew 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 buying an additional 234 shares in the last quarter. Finally, Signaturefd LLC increased its position in Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 246 shares during 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.