Brinker International (NYSE:EAT) Price Target Raised to $97.00 at Piper Sandler

Brinker International (NYSE:EAT) had its price objective hoisted by analysts at Piper Sandler from $62.00 to $97.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective suggests a potential downside of 10.03% from the stock’s previous close.

Several other research firms also recently weighed in on EAT. KeyCorp raised their price target on Brinker International from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $68.00 target price on shares of Brinker International in a research note on Thursday, August 15th. Bank of America increased their target price on Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a research note on Tuesday, October 15th. Finally, Raymond James downgraded shares of Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.45.

Brinker International Stock Performance

NYSE EAT traded up $2.89 on Monday, hitting $107.81. 302,849 shares of the company’s stock were exchanged, compared to its average volume of 1,452,110. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 1.44 and a beta of 2.46. The firm’s 50-day moving average price is $81.21 and its two-hundred day moving average price is $70.15. Brinker International has a fifty-two week low of $33.24 and a fifty-two week high of $107.92. The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.32.

Brinker International (NYSE:EAT) last released its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. On average, research analysts expect that Brinker International will post 5.6 EPS for the current year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 23,071 shares in the company, valued at $2,376,774.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Several institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its holdings in shares of Brinker International by 231.8% in the 1st quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after purchasing an additional 1,106,046 shares during the last quarter. Marshall Wace LLP lifted its stake in Brinker International by 13,850.1% in the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator’s stock valued at $76,546,000 after buying an additional 1,049,836 shares during the last quarter. Millennium Management LLC lifted its stake in Brinker International by 31.7% in the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock valued at $68,228,000 after buying an additional 227,047 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of 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. Finally, Squarepoint Ops LLC grew its position in shares of Brinker International by 1,160.2% during the second quarter. Squarepoint Ops LLC now owns 192,268 shares of the restaurant operator’s stock worth $13,918,000 after acquiring an additional 177,011 shares during 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.