Brinker International (NYSE:EAT) Sets New 52-Week High at $50.25

Brinker International, Inc. (NYSE:EAT)’s share price hit a new 52-week high on Thursday . The company traded as high as $50.25 and last traded at $50.10, with a volume of 130221 shares trading hands. The stock had previously closed at $49.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James increased their price target on Brinker International from $45.00 to $50.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Stifel Nicolaus upped their target price on shares of Brinker International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. increased their price objective on Brinker International from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Gordon Haskett raised Brinker International from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, January 16th. Finally, BMO Capital Markets upped their price target on Brinker International from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brinker International presently has a consensus rating of “Hold” and an average price target of $42.38.

Brinker International Stock Performance

The company has a market cap of $2.20 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 0.77 and a beta of 2.46. The stock’s fifty day simple moving average is $45.08 and its two-hundred day simple moving average is $39.06.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. Analysts predict that Brinker International, Inc. will post 3.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the sale, the chief financial officer now directly owns 56,661 shares of the company’s stock, valued at $2,548,045.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brinker International

Several institutional investors and hedge funds have recently made changes to their positions in EAT. JPMorgan Chase & Co. raised its holdings in Brinker International by 224.6% in the first quarter. JPMorgan Chase & Co. now owns 254,950 shares of the restaurant operator’s stock valued at $9,729,000 after acquiring an additional 176,405 shares in the last quarter. Raymond James & Associates raised its stake in Brinker International by 74.4% during the first quarter. Raymond James & Associates now owns 58,426 shares of the restaurant operator’s stock valued at $2,230,000 after buying an additional 24,923 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in Brinker International during the 1st quarter worth approximately $237,000. MetLife Investment Management LLC increased its holdings in shares of Brinker International by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 24,327 shares of the restaurant operator’s stock valued at $928,000 after acquiring an additional 8,465 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Brinker International by 3.1% during the first quarter. Rhumbline Advisers now owns 121,256 shares of the restaurant operator’s stock worth $4,627,000 after purchasing an additional 3,610 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.