Brinker International (NYSE:EAT) Cut to “Sector Weight” at KeyCorp

KeyCorp cut shares of Brinker International (NYSE:EAT) from an overweight rating to a sector weight rating in a report issued on Friday morning, Marketbeat reports. They currently have $115.00 price objective on the restaurant operator’s stock.

Other analysts have also recently issued reports about the stock. Piper Sandler upped their target price on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Raymond James lowered Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on Brinker International from $108.00 to $146.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Bank Of America (Bofa) increased their price target on Brinker International from $94.00 to $97.00 in a report on Tuesday, October 29th. Finally, Barclays lifted their price objective on shares of Brinker International from $95.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.45.

Brinker International Price Performance

NYSE:EAT opened at $149.63 on Friday. The business’s 50-day moving average is $134.65 and its 200 day moving average is $98.85. Brinker International has a 12 month low of $39.11 and a 12 month high of $155.13. The company has a market capitalization of $6.65 billion, a P/E ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 2.52. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT) last posted 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 during the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, equities research analysts forecast that Brinker International will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total transaction 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 represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

Institutional Trading of Brinker International

A number of hedge funds have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC raised its holdings in shares of Brinker International by 100.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in Brinker International by 1.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock worth $920,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Brinker International by 123.9% during the fourth quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after buying an additional 171 shares during the period. Optimist Retirement Group LLC raised its position in shares of Brinker International by 6.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock worth $249,000 after acquiring an additional 187 shares in the last quarter. Finally, Nilsine Partners LLC lifted its stake in shares of Brinker International by 13.1% during the 4th quarter. Nilsine Partners LLC now owns 2,966 shares of the restaurant operator’s stock worth $392,000 after purchasing an additional 344 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.