JPMorgan Chase & Co. Raises Brinker International (NYSE:EAT) Price Target to $28.00

Brinker International (NYSE:EAT) had its price target hoisted by JPMorgan Chase & Co. from $19.00 to $28.00 in a research report released on Wednesday morning, The Fly reports. They currently have a neutral rating on the restaurant operator’s stock.

A number of other equities research analysts have also recently issued reports on EAT. Royal Bank of Canada increased their target price on shares of Brinker International from $14.00 to $25.00 and gave the stock a sector perform rating in a research report on Thursday, April 30th. Wolfe Research initiated coverage on shares of Brinker International in a research note on Friday, April 17th. They issued a market perform rating for the company. Loop Capital reduced their target price on Brinker International from $54.00 to $24.00 and set a buy rating on the stock in a report on Tuesday, April 28th. Stephens began coverage on Brinker International in a report on Thursday, April 30th. They set an overweight rating for the company. Finally, Telsey Advisory Group reissued an outperform rating on shares of Brinker International in a research note on Wednesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $36.57.

Shares of EAT opened at $23.41 on Wednesday. The stock has a market cap of $1.05 billion, a PE ratio of 5.77, a PEG ratio of 2.12 and a beta of 2.19. Brinker International has a 1 year low of $7.00 and a 1 year high of $47.57. The stock has a 50 day simple moving average of $24.90 and a 200-day simple moving average of $29.77.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.63. The firm had revenue of $860.00 million for the quarter, compared to analysts’ expectations of $845.99 million. Brinker International had a negative return on equity of 24.65% and a net margin of 3.62%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, analysts anticipate that Brinker International will post 1.11 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of EAT. Amundi Pioneer Asset Management Inc. increased its stake in Brinker International by 2.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock worth $22,409,000 after purchasing an additional 10,023 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Brinker International by 13.1% in the fourth quarter. Victory Capital Management Inc. now owns 40,485 shares of the restaurant operator’s stock valued at $1,728,000 after buying an additional 4,694 shares during the period. Swiss National Bank raised its holdings in shares of Brinker International by 2.0% during the fourth quarter. Swiss National Bank now owns 71,700 shares of the restaurant operator’s stock worth $3,011,000 after acquiring an additional 1,400 shares during the period. Sei Investments Co. lifted its position in Brinker International by 23.7% in the 4th quarter. Sei Investments Co. now owns 6,925 shares of the restaurant operator’s stock valued at $291,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Brinker International by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 533,206 shares of the restaurant operator’s stock worth $22,395,000 after purchasing an additional 16,044 shares during the period. 79.22% of the stock is owned by hedge funds and other institutional investors.

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 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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