Evercore ISI Begins Coverage on Brinker International (NYSE:EAT)

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Analysts at Evercore ISI initiated coverage on shares of Brinker International (NYSE:EAT) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set an “in-line” rating and a $40.00 price target on the restaurant operator’s stock. Evercore ISI’s target price indicates a potential downside of 1.23% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. UBS Group raised shares of Brinker International from a “sell” rating to a “neutral” rating and set a $39.00 price objective on the stock in a research note on Monday, June 3rd. ValuEngine raised shares of Brinker International from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Zacks Investment Research lowered shares of Brinker International from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Maxim Group reissued a “buy” rating and set a $58.00 target price on shares of Brinker International in a research note on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.86.

NYSE:EAT opened at $40.50 on Tuesday. Brinker International has a 52 week low of $36.82 and a 52 week high of $54.14. The firm has a market capitalization of $1.50 billion, a PE ratio of 11.57, a PEG ratio of 1.19 and a beta of 0.24.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. Brinker International had a net margin of 4.75% and a negative return on equity of 19.10%. The company had revenue of $839.30 million for the quarter, compared to analyst estimates of $831.16 million. During the same period in the prior year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Brinker International will post 3.93 earnings per share for the current year.

In related news, EVP Kelly C. Baltes purchased 800 shares of Brinker International stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $42.05 per share, for a total transaction of $33,640.00. Following the completion of the transaction, the executive vice president now owns 13,134 shares in the company, valued at $552,284.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Weiss Asset Management LP purchased a new stake in Brinker International in the first quarter valued at approximately $258,000. Schonfeld Strategic Advisors LLC raised its stake in Brinker International by 79.7% in the first quarter. Schonfeld Strategic Advisors LLC now owns 172,200 shares of the restaurant operator’s stock valued at $7,642,000 after purchasing an additional 76,352 shares in the last quarter. One Wealth Advisors LLC raised its stake in Brinker International by 43.6% in the first quarter. One Wealth Advisors LLC now owns 8,108 shares of the restaurant operator’s stock valued at $360,000 after purchasing an additional 2,460 shares in the last quarter. Man Group plc raised its stake in Brinker International by 171.4% in the first quarter. Man Group plc now owns 220,603 shares of the restaurant operator’s stock valued at $9,791,000 after purchasing an additional 139,307 shares in the last quarter. Finally, SEI Investments Co raised its stake in Brinker International by 798.3% in the first quarter. SEI Investments Co now owns 28,512 shares of the restaurant operator’s stock valued at $1,266,000 after purchasing an additional 25,338 shares in the last quarter.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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