Morgan Stanley Trims Brinker International (NYSE:EAT) Target Price to $64.00

Brinker International (NYSE:EAT) had its price objective trimmed by Morgan Stanley from $68.00 to $64.00 in a research note issued to investors on Wednesday morning, Price Targets.com reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

A number of other research firms have also recently weighed in on EAT. Zacks Investment Research cut Brinker International from a hold rating to a sell rating and set a $65.00 price target for the company. in a report on Thursday, July 1st. Wells Fargo & Company lowered their target price on Brinker International from $76.00 to $65.00 and set an equal weight rating for the company in a report on Wednesday, July 28th. Barclays lowered their target price on Brinker International from $66.00 to $60.00 and set an equal weight rating for the company in a report on Thursday, August 19th. Evercore ISI reduced their price target on Brinker International from $80.00 to $66.00 and set an outperform rating on the stock in a research report on Monday, August 9th. Finally, Stephens raised their target price on Brinker International from $68.00 to $75.00 and gave the stock an overweight rating in a research report on Thursday, August 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $67.71.

Shares of NYSE:EAT opened at $48.10 on Wednesday. The business has a fifty day moving average of $51.60 and a two-hundred day moving average of $58.58. The stock has a market cap of $2.18 billion, a P/E ratio of 17.18, a PEG ratio of 1.08 and a beta of 2.80. Brinker International has a 52-week low of $40.73 and a 52-week high of $78.33.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, August 17th. The restaurant operator reported $1.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.04). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Brinker International had a net margin of 3.94% and a negative return on equity of 36.28%. The firm’s quarterly revenue was up 79.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.88) earnings per share. Analysts predict that Brinker International will post 4.77 EPS for the current year.

In other Brinker International news, CEO Wyman Roberts sold 6,250 shares of the firm’s stock in a transaction dated Friday, September 24th. The stock was sold at an average price of $52.93, for a total transaction of $330,812.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Joseph G. Taylor sold 1,408 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $54.28, for a total value of $76,426.24. The disclosure for this sale can be found here. Corporate insiders own 3.72% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new position in Brinker International during the first quarter worth about $30,000. Harbor Investment Advisory LLC raised its stake in shares of Brinker International by 132.3% in the second quarter. Harbor Investment Advisory LLC now owns 1,057 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 602 shares during the last quarter. FORA Capital LLC raised its stake in shares of Brinker International by 138.2% in the first quarter. FORA Capital LLC now owns 1,003 shares of the restaurant operator’s stock valued at $71,000 after acquiring an additional 582 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Brinker International in the second quarter valued at approximately $79,000. Finally, Toronto Dominion Bank bought a new position in shares of Brinker International in the second quarter valued at approximately $96,000. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Brinker International Company Profile

Brinker International, Inc engages in owning, developing, and franchising Chili’s Grill and Bar and Maggiano’s Little Italy restaurant brands. It operates through the following segments: Chili’s, and Maggiano’s. The Chili’s segment includes the results of company-owned Chili’s restaurants in the U.S.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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