Brinker International (NYSE:EAT) Reaches New 12-Month High at $53.27

Brinker International, Inc. (NYSE:EAT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.27 and last traded at $52.92, with a volume of 805537 shares trading hands. The stock had previously closed at $49.66.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James lifted their price target on shares of Brinker International from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Barclays increased their price target on shares of Brinker International from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 3rd. Gordon Haskett upgraded Brinker International from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, January 16th. JPMorgan Chase & Co. boosted their target price on shares of Brinker International from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Jefferies Financial Group raised their price target on shares of Brinker International from $47.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Brinker International has a consensus rating of “Hold” and an average price target of $44.81.

Brinker International Stock Up 8.7 %

The stock’s fifty day simple moving average is $47.27 and its two-hundred day simple moving average is $41.82. The firm has a market cap of $2.39 billion, a PE ratio of 15.71, a PEG ratio of 0.79 and a beta of 2.46.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities research analysts anticipate that Brinker International, Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the transaction, the chief financial officer now owns 56,661 shares in the company, valued at approximately $2,548,045.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Brinker International by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 230,397 shares of the restaurant operator’s stock worth $11,446,000 after acquiring an additional 577 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Brinker International in the first quarter worth $537,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Brinker International by 8.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,190 shares of the restaurant operator’s stock valued at $705,000 after buying an additional 1,111 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Brinker International during the 1st quarter valued at $99,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Brinker International by 11.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 11,419 shares of the restaurant operator’s stock worth $567,000 after buying an additional 1,170 shares during the period.

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.