Brinker International (NYSE:EAT) Price Target Increased to $47.00 by Analysts at Wedbush

Brinker International (NYSE:EAT) had its price target lifted by stock analysts at Wedbush from $45.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price target points to a potential downside of 3.96% from the stock’s current price.

Several other equities analysts also recently commented on the company. 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 research report on Thursday, February 1st. Barclays increased their target price on Brinker International from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 3rd. BMO Capital Markets increased their target price on Brinker International from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Royal Bank of Canada raised their price objective on Brinker International from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 1st. Finally, Jefferies Financial Group raised their price objective on Brinker International from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Brinker International presently has an average rating of “Hold” and an average target price of $44.81.

Brinker International Price Performance

Shares of EAT stock traded up $0.67 on Friday, hitting $48.94. 405,952 shares of the company’s stock were exchanged, compared to its average volume of 1,273,515. Brinker International has a 12 month low of $28.23 and a 12 month high of $51.72. The stock has a market cap of $2.16 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 0.77 and a beta of 2.46. The company has a 50 day moving average of $47.09 and a 200 day moving average of $41.40.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 EPS for the quarter, beating the consensus estimate of $0.94 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. Sell-side analysts predict that Brinker International will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Brinker International

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $44.97, for a total value of $1,086,610.11. Following the completion of the sale, the chief financial officer now owns 56,661 shares of the company’s stock, valued at $2,548,045.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EAT. Cooper Creek Partners Management LLC purchased a new position in shares of Brinker International during the third quarter valued at approximately $57,246,000. Boston Partners bought a new stake in Brinker International during the fourth quarter worth $20,401,000. Norges Bank bought a new stake in Brinker International during the fourth quarter worth $12,853,000. Franklin Resources Inc. lifted its holdings in Brinker International by 24.6% during the fourth quarter. Franklin Resources Inc. now owns 1,503,198 shares of the restaurant operator’s stock worth $64,908,000 after acquiring an additional 296,785 shares during the period. Finally, Barclays PLC lifted its holdings in Brinker International by 411.7% during the third quarter. Barclays PLC now owns 170,719 shares of the restaurant operator’s stock worth $5,394,000 after acquiring an additional 137,354 shares during the period.

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.