UBS Group Raises Brinker International (NYSE:EAT) Price Target to $146.00

Brinker International (NYSE:EAT) had its price target raised by UBS Group from $108.00 to $146.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. UBS Group’s target price suggests a potential upside of 4.52% from the company’s previous close.

Several other research analysts have also issued reports on EAT. Morgan Stanley raised Brinker International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $115.00 in a research report on Friday, December 20th. The Goldman Sachs Group began coverage on Brinker International in a research note on Thursday, December 5th. They issued a “buy” rating and a $150.00 price objective on the stock. KeyCorp increased their target price on shares of Brinker International from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Brinker International from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Piper Sandler upped their price objective on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Brinker International presently has an average rating of “Hold” and a consensus price target of $103.53.

Brinker International Price Performance

Shares of EAT opened at $139.69 on Tuesday. The business has a 50-day simple moving average of $126.84 and a two-hundred day simple moving average of $92.42. Brinker International has a 12-month low of $37.25 and a 12-month high of $142.47. The stock has a market cap of $6.21 billion, a PE ratio of 34.07, a PEG ratio of 1.46 and a beta of 2.52. 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 issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.10 billion. During the same quarter last year, the business earned $0.28 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts anticipate that Brinker International will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were 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 approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.72% of the stock is currently owned by company insiders.

Institutional Trading of Brinker International

Several institutional investors and hedge funds have recently modified their holdings of EAT. Marshall Wace LLP grew its holdings in Brinker International by 13,850.1% during the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock worth $76,546,000 after buying an additional 1,049,836 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Brinker International by 0.8% during the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator’s stock valued at $76,413,000 after purchasing an additional 8,105 shares in the last quarter. Millennium Management LLC lifted its position in shares of Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after purchasing an additional 227,047 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Brinker International by 4.3% during the third quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator’s stock worth $52,900,000 after purchasing an additional 28,373 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after purchasing an additional 219,836 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.