Morgan Stanley Forecasts Strong Price Appreciation for Brinker International (NYSE:EAT) Stock

Brinker International (NYSE:EAT) had its target price raised by equities research analysts at Morgan Stanley from $250.00 to $260.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price target suggests a potential upside of 21.40% from the stock’s previous close.

Several other equities research analysts also recently commented on EAT. Northcoast Research downgraded shares of Brinker International from a “buy” rating to a “neutral” rating in a research report on Friday, August 14th. Piper Sandler increased their price objective on Brinker International from $166.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Wells Fargo & Company lifted their target price on Brinker International from $220.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Weiss Ratings raised Brinker International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, TD Cowen lifted their price objective on shares of Brinker International from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.30.

Brinker International Stock Down 0.5%

Shares of NYSE:EAT traded down $1.14 during trading on Thursday, reaching $214.17. 603,792 shares of the stock were exchanged, compared to its average volume of 1,137,300. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.45 and a quick ratio of 0.40. Brinker International has a 1-year low of $100.30 and a 1-year high of $254.99. The stock has a fifty day moving average of $213.04 and a two-hundred day moving average of $169.96. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). Brinker International had a net margin of 8.39% and a return on equity of 122.35%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted $2.30 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. Research analysts anticipate that Brinker International will post 13.22 earnings per share for the current fiscal year.

Insider Activity at Brinker International

In related news, Director Joseph DePinto sold 25,000 shares of Brinker International stock in a transaction on Friday, August 28th. The stock was sold at an average price of $230.39, for a total transaction of $5,759,750.00. Following the sale, the director directly owned 77,812 shares in the company, valued at approximately $17,927,106.68. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James Butler sold 10,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $240.37, for a total value of $2,403,700.00. Following the completion of the transaction, the senior vice president directly owned 9,064 shares in the company, valued at approximately $2,178,713.68. This represents a 52.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,044 shares of company stock valued at $41,425,632 in the last ninety days. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Brinker International

A number of hedge funds and other institutional investors have recently made changes to their positions in EAT. The Manufacturers Life Insurance Company increased its holdings in Brinker International by 13.1% during the second quarter. The Manufacturers Life Insurance Company now owns 21,550 shares of the restaurant operator’s stock worth $3,620,000 after buying an additional 2,489 shares during the last quarter. Tidal Investments LLC grew its position in shares of Brinker International by 24.1% during the 2nd quarter. Tidal Investments LLC now owns 8,897 shares of the restaurant operator’s stock valued at $1,495,000 after acquiring an additional 1,726 shares during the period. WINTON GROUP Ltd grew its position in shares of Brinker International by 318.2% during the 2nd quarter. WINTON GROUP Ltd now owns 28,047 shares of the restaurant operator’s stock valued at $4,712,000 after acquiring an additional 21,340 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Brinker International during the 2nd quarter worth approximately $145,000. Finally, Empirical Finance LLC purchased a new stake in shares of Brinker International during the 2nd quarter worth approximately $687,000.

About Brinker International

Brinker International, Inc (NYSE: EAT) is a leading global operator of casual dining restaurants. The company’s portfolio is anchored by its flagship Chili’s® Grill & Bar concept and Maggiano’s® Little Italy full?service restaurants, offering a range of American?style menu items, handcrafted cocktails and family?friendly dining experiences. Through dine?in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili’s brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited?time offerings and seasonal beverages.