Brinker International, Inc. (NYSE:EAT) Sees Large Growth in Short Interest

Brinker International, Inc. (NYSE:EAT) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 5,410,000 shares, an increase of 7.1% from the December 31st total of 5,050,000 shares. Approximately 12.4% of the shares of the stock are short sold. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is currently 4.5 days.

Brinker International Stock Down 0.3 %

NYSE EAT traded down $0.60 on Tuesday, hitting $188.55. 438,581 shares of the company were exchanged, compared to its average volume of 1,295,160. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96. The company has a market cap of $8.37 billion, a PE ratio of 32.62, a PEG ratio of 0.58 and a beta of 2.54. The stock has a fifty day moving average of $140.46 and a 200-day moving average of $103.44. Brinker International has a 12 month low of $42.99 and a 12 month high of $192.22.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, January 29th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $1.43. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. As a group, analysts forecast that Brinker International will post 8.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on EAT. Bank Of America (Bofa) upped their price objective on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. KeyCorp downgraded shares of Brinker International from an “overweight” rating to a “sector weight” rating and set a $115.00 price target for the company. in a research note on Friday, January 24th. Piper Sandler increased their price objective on Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Wedbush lifted their target price on Brinker International from $140.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Evercore ISI upped their price target on Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a research report on Tuesday, October 15th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brinker International has an average rating of “Hold” and a consensus price target of $140.18.

Institutional Investors Weigh In On Brinker International

Several hedge funds and other institutional investors have recently modified their holdings of EAT. Hennessy Advisors Inc. bought a new position in shares of Brinker International in the 4th quarter worth $81,888,000. Assenagon Asset Management S.A. lifted its stake in shares of Brinker International by 2,612.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock valued at $77,865,000 after buying an additional 566,894 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Brinker International by 1,145.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock valued at $55,038,000 after buying an additional 382,633 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Brinker International by 55.1% during the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock valued at $47,351,000 after buying an additional 219,836 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Brinker International during the third quarter worth about $14,611,000.

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.