Brinker International (NYSE:EAT) Given New $47.00 Price Target at Wedbush

Brinker International (NYSE:EAT) had its price target increased by Wedbush from $45.00 to $47.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other analysts also recently issued reports on EAT. StockNews.com downgraded Brinker International from a buy rating to a hold rating in a research note on Thursday, February 1st. Raymond James lifted their price objective on Brinker International from $45.00 to $50.00 and gave the company a strong-buy rating in a report on Thursday, February 1st. UBS Group lifted their price objective on Brinker International from $46.00 to $50.00 and gave the company a neutral rating in a report on Wednesday. Evercore ISI lifted their price objective on Brinker International from $48.00 to $50.00 and gave the company an in-line rating in a report on Thursday, April 18th. Finally, Royal Bank of Canada lifted their price objective on Brinker International from $43.00 to $46.00 and gave the company a sector perform rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $44.81.

Brinker International Trading Up 1.2 %

Shares of NYSE EAT opened at $48.87 on Friday. Brinker International has a 12 month low of $28.23 and a 12 month high of $51.72. The stock has a 50 day moving average of $47.17 and a 200-day moving average of $41.54. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.78 and a beta of 2.46.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The business 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%. Analysts predict that Brinker International will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joseph G. Taylor sold 24,163 shares of the company’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 transaction of $1,086,610.11. Following the transaction, the chief financial officer now directly owns 56,661 shares of the company’s stock, valued at approximately $2,548,045.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in Brinker International during the 1st quarter worth approximately $537,000. Allspring Global Investments Holdings LLC raised its stake in shares of Brinker International by 8.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,190 shares of the restaurant operator’s stock worth $705,000 after purchasing an additional 1,111 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Brinker International in the first quarter worth approximately $99,000. Los Angeles Capital Management LLC raised its stake in shares of Brinker International by 11.4% in the first quarter. Los Angeles Capital Management LLC now owns 11,419 shares of the restaurant operator’s stock worth $567,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Brinker International by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,399,920 shares of the restaurant operator’s stock worth $233,169,000 after purchasing an additional 30,861 shares during the last quarter.

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.