Brinker International (NYSE:EAT) Downgraded to “Market Perform” at Raymond James

Raymond James cut shares of Brinker International (NYSE:EAT) from an outperform rating to a market perform rating in a research note published on Thursday morning, Marketbeat Ratings reports.

Several other equities research analysts also recently commented on EAT. Citigroup boosted their price objective on Brinker International from $69.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Barclays lifted their target price on Brinker International from $53.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. KeyCorp raised Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on Brinker International from $45.00 to $50.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their target price on Brinker International from $42.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.74.

Brinker International Trading Up 3.5 %

NYSE EAT opened at $92.46 on Thursday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.35 and a beta of 2.51. Brinker International has a 52 week low of $31.95 and a 52 week high of $93.42. The business has a 50 day moving average price of $75.25 and a 200-day moving average price of $66.60. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 19.96.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.17 billion. Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. As a group, equities analysts expect that Brinker International will post 4.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Brinker International during the 1st quarter valued at $25,000. CWM LLC raised its stake 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 period. Headlands Technologies LLC bought a new stake in shares of Brinker International during the 1st quarter valued at $47,000. Hollencrest Capital Management bought a new stake in shares of Brinker International during the 1st quarter valued at $50,000. Finally, Covestor Ltd raised its stake in shares of Brinker International by 32,500.0% during the 1st quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock valued at $65,000 after purchasing an additional 1,300 shares during the period.

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.