Brinker International (NYSE:EAT) Trading 4.3% Higher – Here’s Why

Shares of Brinker International, Inc. (NYSE:EAT) traded up 4.3% during trading on Tuesday . The stock traded as high as $128.44 and last traded at $128.08. 313,660 shares traded hands during trading, a decline of 78% from the average session volume of 1,424,322 shares. The stock had previously closed at $122.76.

Wall Street Analysts Forecast Growth

EAT has been the topic of several recent research reports. Raymond James lowered shares of Brinker International from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 17th. BMO Capital Markets cut Brinker International from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $80.00 to $105.00 in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on Brinker International from $85.00 to $95.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. UBS Group lifted their price target on Brinker International from $70.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price objective on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.63.

Brinker International Stock Up 4.5 %

The business has a 50 day simple moving average of $107.17 and a 200 day simple moving average of $82.59. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The stock has a market cap of $5.70 billion, a PE ratio of 30.64, a P/E/G ratio of 1.43 and a beta of 2.51.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. On average, equities research analysts forecast that Brinker International, Inc. will post 5.52 EPS for the current fiscal year.

Insider Transactions at Brinker International

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brinker International

Several institutional investors and hedge funds have recently added to or reduced their stakes in EAT. CWM LLC raised its position in shares of Brinker International by 96.2% in the second 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. Wealth Enhancement Advisory Services LLC acquired a new position in Brinker International during the 2nd quarter worth $352,000. Assenagon Asset Management S.A. boosted its holdings in Brinker International by 1,686.8% during the second quarter. Assenagon Asset Management S.A. now owns 192,972 shares of the restaurant operator’s stock valued at $13,969,000 after acquiring an additional 182,172 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Brinker International by 1.3% in the second 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. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Brinker International in the second quarter worth about $180,000.

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.