Brinker International, Inc. (NYSE:EAT) Given Average Rating of “Buy” by Brokerages

Shares of Brinker International, Inc. (NYSE:EAT) have been assigned a consensus rating of “Buy” from the twenty-one analysts that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $70.00.

Several analysts have weighed in on EAT shares. Telsey Advisory Group upped their target price on Brinker International from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Piper Sandler increased their price objective on shares of Brinker International from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, February 12th. Evercore ISI lifted their target price on shares of Brinker International from $66.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 31st. Royal Bank of Canada raised their price objective on shares of Brinker International from $71.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded Brinker International from a “neutral” rating to an “overweight” rating and set a $78.00 price objective for the company in a research report on Friday, May 7th.

In other news, EVP Steve Provost sold 18,405 shares of the company’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $58.16, for a total transaction of $1,070,434.80. Following the completion of the sale, the executive vice president now directly owns 56,579 shares in the company, valued at approximately $3,290,634.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Douglas N. Comings sold 1,529 shares of the stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $63.48, for a total value of $97,060.92. Following the completion of the transaction, the chief operating officer now directly owns 22,451 shares in the company, valued at $1,425,189.48. The disclosure for this sale can be found here. Insiders sold 308,129 shares of company stock worth $21,152,412 over the last three months. Corporate insiders own 3.72% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Factorial Partners LLC grew its holdings in shares of Brinker International by 5,912.8% during the 1st quarter. Factorial Partners LLC now owns 1,094,324 shares of the restaurant operator’s stock worth $15,400,000 after purchasing an additional 1,076,124 shares during the period. BlackRock Inc. increased its position in shares of Brinker International by 8.3% in the fourth quarter. BlackRock Inc. now owns 8,857,301 shares of the restaurant operator’s stock worth $501,056,000 after acquiring an additional 677,698 shares in the last quarter. Newbrook Capital Advisors LP purchased a new position in shares of Brinker International in the 4th quarter valued at $35,497,000. Victory Capital Management Inc. lifted its holdings in shares of Brinker International by 59.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,437,483 shares of the restaurant operator’s stock valued at $102,148,000 after acquiring an additional 534,823 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Brinker International during the 4th quarter valued at $29,715,000. Institutional investors own 99.07% of the company’s stock.

Shares of NYSE EAT traded down $0.19 during midday trading on Friday, hitting $60.70. The company had a trading volume of 5,237 shares, compared to its average volume of 1,050,471. The firm has a 50-day simple moving average of $64.51. Brinker International has a twelve month low of $20.72 and a twelve month high of $78.33. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 3,074.04, a price-to-earnings-growth ratio of 1.94 and a beta of 2.80.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, April 27th. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The company had revenue of $828.40 million during the quarter, compared to the consensus estimate of $837.55 million. Brinker International had a net margin of 0.26% and a negative return on equity of 6.66%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. On average, research analysts anticipate that Brinker International will post 3.11 earnings per share for the current year.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 24, 2020, it owned, operated, or franchised 1,663 restaurants comprising 1,610 restaurants under the Chili's Grill & Bar name and 53 restaurants under the Maggiano's Little Italy brand name.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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