Brinker International (EAT) Given New $43.00 Price Target at Wells Fargo & Co

Brinker International (NYSE:EAT) had its target price lifted by Wells Fargo & Co from $42.00 to $43.00 in a report issued on Monday morning. The brokerage currently has a market perform rating on the restaurant operator’s stock.

A number of other analysts have also recently issued reports on EAT. Zacks Investment Research raised Brinker International from a sell rating to a hold rating and set a $50.00 price objective for the company in a research report on Wednesday, May 2nd. Stifel Nicolaus raised their price objective on Brinker International from $38.00 to $45.00 and gave the company a hold rating in a research report on Wednesday, May 2nd. Telsey Advisory Group cut their price objective on Brinker International from $52.00 to $49.00 and set a market perform rating for the company in a research report on Friday. Bank of America cut their price objective on Brinker International from $41.00 to $39.00 and set an underperform rating for the company in a research report on Thursday, August 2nd. Finally, Maxim Group reaffirmed a buy rating and issued a $55.00 price objective (up from $52.00) on shares of Brinker International in a research report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Brinker International currently has a consensus rating of Hold and an average price target of $44.86.

NYSE EAT traded up $0.11 during trading hours on Monday, hitting $43.96. 50,433 shares of the company traded hands, compared to its average volume of 880,820. Brinker International has a twelve month low of $29.50 and a twelve month high of $54.14. The company has a debt-to-equity ratio of -2.24, a quick ratio of 0.27 and a current ratio of 0.32. The stock has a market capitalization of $1.94 billion and a PE ratio of 13.75.

Brinker International (NYSE:EAT) last issued its quarterly earnings results on Tuesday, August 14th. The restaurant operator reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Brinker International had a negative return on equity of 30.02% and a net margin of 4.24%. The firm had revenue of $817.10 million during the quarter, compared to analysts’ expectations of $817.93 million. During the same period in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. research analysts forecast that Brinker International will post 3.52 EPS for the current year.

In other news, SVP David Roy Doyle sold 3,615 shares of the stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $49.86, for a total transaction of $180,243.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Valade sold 4,224 shares of the stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $49.59, for a total value of $209,468.16. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. LifePlan Financial Group Inc bought a new position in shares of Brinker International during the second quarter worth approximately $112,000. Stratos Wealth Partners LTD. increased its stake in shares of Brinker International by 1,000.0% during the first quarter. Stratos Wealth Partners LTD. now owns 3,300 shares of the restaurant operator’s stock worth $119,000 after purchasing an additional 3,000 shares during the period. IFP Advisors Inc increased its stake in shares of Brinker International by 512.3% during the first quarter. IFP Advisors Inc now owns 3,545 shares of the restaurant operator’s stock worth $128,000 after purchasing an additional 2,966 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Brinker International during the 1st quarter worth $153,000. Finally, Sei Investments Co. increased its stake in Brinker International by 913.2% during the 2nd quarter. Sei Investments Co. now owns 3,597 shares of the restaurant operator’s stock worth $171,000 after acquiring an additional 3,242 shares during the period.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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