Brinker International (NYSE:EAT) Upgraded at Argus

Argus upgraded shares of Brinker International (NYSE:EAT) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has $72.00 price target on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on EAT. Wedbush lifted their target price on shares of Brinker International from $45.00 to $47.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Morgan Stanley upped their target price on Brinker International from $36.00 to $39.00 and gave the company an underweight rating in a research note on Friday, April 12th. Raymond James increased their target price on Brinker International from $45.00 to $50.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. BMO Capital Markets boosted their price target on Brinker International from $55.00 to $65.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Brinker International from $44.00 to $48.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brinker International presently has an average rating of Hold and an average price target of $48.29.

Brinker International Price Performance

Shares of NYSE:EAT opened at $64.34 on Tuesday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 0.78 and a beta of 2.42. The business’s 50 day simple moving average is $51.81 and its 200-day simple moving average is $45.04. Brinker International has a 12 month low of $28.23 and a 12 month high of $65.93.

Brinker International (NYSE:EAT) last posted its earnings results on Tuesday, April 30th. The restaurant operator reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Brinker International’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Brinker International will post 3.97 earnings per share for the current year.

Insider Activity at Brinker International

In other news, CFO Joseph G. Taylor sold 40,050 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $60.45, for a total value of $2,421,022.50. Following the transaction, the chief financial officer now directly owns 66,286 shares in the company, valued at approximately $4,006,988.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Prashant Ranade sold 1,100 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $62.47, for a total transaction of $68,717.00. Following the completion of the sale, the director now directly owns 17,039 shares of the company’s stock, valued at approximately $1,064,426.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph G. Taylor sold 40,050 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $60.45, for a total value of $2,421,022.50. Following the completion of the sale, the chief financial officer now owns 66,286 shares of the company’s stock, valued at $4,006,988.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Brinker International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new position in Brinker International during the 4th quarter worth approximately $3,522,000. Invesco Ltd. lifted its position in shares of Brinker International by 20.4% during the third quarter. Invesco Ltd. now owns 332,176 shares of the restaurant operator’s stock worth $10,493,000 after purchasing an additional 56,192 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Brinker International by 5.5% in the fourth quarter. SG Americas Securities LLC now owns 23,079 shares of the restaurant operator’s stock valued at $997,000 after purchasing an additional 1,205 shares during the period. New York State Common Retirement Fund grew its holdings in Brinker International by 63.9% during the 3rd quarter. New York State Common Retirement Fund now owns 31,428 shares of the restaurant operator’s stock valued at $993,000 after purchasing an additional 12,251 shares in the last quarter. Finally, Boston Partners purchased a new stake in Brinker International during the 4th quarter worth $20,401,000.

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.