Brinker International (NYSE:EAT) Reaches New 52-Week High – Still a Buy?

Brinker International, Inc. (NYSE:EAT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $124.41 and last traded at $123.32, with a volume of 219770 shares trading hands. The stock had previously closed at $122.90.

Analyst Upgrades and Downgrades

EAT has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Brinker International from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets cut shares of Brinker International from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $80.00 to $105.00 in a research note on Thursday, October 31st. Raymond James cut shares of Brinker International from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Evercore ISI lifted their target price on shares of Brinker International from $69.00 to $90.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 15th. Finally, KeyCorp lifted their target price on shares of Brinker International from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Brinker International presently has a consensus rating of “Hold” and a consensus price target of $86.45.

Brinker International Price Performance

The company has a debt-to-equity ratio of 63.54, a current ratio of 0.32 and a quick ratio of 0.26. The company has a 50 day moving average price of $91.01 and a 200 day moving average price of $75.47. The firm has a market cap of $5.42 billion, a PE ratio of 30.08, a PEG ratio of 1.30 and a beta of 2.46.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. Brinker International’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. Sell-side analysts expect that Brinker International, Inc. will post 5.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the transaction, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. The trade was a 13.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Brinker International

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC acquired a new position in Brinker International in the 1st quarter valued at $714,000. Lazard Asset Management LLC grew its stake in shares of Brinker International by 36.7% during the 1st quarter. Lazard Asset Management LLC now owns 279,974 shares of the restaurant operator’s stock valued at $13,908,000 after buying an additional 75,225 shares during the period. Vanguard Group Inc. boosted its position in Brinker International by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 5,535,500 shares of the restaurant operator’s stock worth $275,004,000 after purchasing an additional 135,580 shares during the period. Empowered Funds LLC purchased a new stake in Brinker International during the 3rd quarter worth $5,330,000. Finally, Boston Partners boosted its position in Brinker International by 231.8% during the 1st quarter. Boston Partners now owns 1,583,239 shares of the restaurant operator’s stock worth $78,602,000 after purchasing an additional 1,106,046 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.