The target price for Brinker International (NYSE:EAT) was cut to $80.00

VaselineAugust 17, 2024

0 4 minutes read

Brinker International (NYSE:EAT – Get a Free Report) Their price target was lowered by research analysts at BMO Capital Markets from $85.00 to $80.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target would suggest a potential upside of 22.01% from the stock’s previous close.

Several other research firms have also commented on EAT. Raymond James lowered Brinker International from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $82.50 in a research report on Monday. July 8. Morgan Stanley boosted their price target on Brinker International from $42.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Bank of America upped their price target on Brinker International from $51.00 to $58.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Wedbush upped their price target on Brinker International from $56.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, UBS Group boosted their price target on Brinker International from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $60.58.

Read our latest analysis on Brinker International

Brinker International shares fell 2.2%

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Shares of NYSE EAT opened at $65.57 on Thursday. The company has a fifty day simple moving average of $67.23 and a two hundred day simple moving average of $57.17. The firm has a market cap of $2.92 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 0.63 and a beta of 2.52. Brinker International has a 12-month low of $28.23 and a 12-month high of $76.02.

Brinker International (NYSE:EAT – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. Brinker International had a negative return on equity of 154.29% and a net margin of 3.55%. The company’s revenue increased by 12.3% year-on-year. In the same period last year, the company posted earnings per share of $1.39. On average, research analysts expect that Brinker International will post 4.18 earnings per share for the current year.

Insider Buying and Selling at Brinker International

In other news, COO Douglas N. Comings sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total value of $683,100.00. Following the sale, the chief operating officer now owns 38,164 shares in the company, valued at $2,606,982.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other news, COO Douglas N. Comings sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $68.31, for a total value of $683,100.00. Following the sale, the chief operating officer now owns 38,164 shares in the company, valued at $2,606,982.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, COO Douglas N. Comings sold 2,953 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $72.97, for a total value of $215,480.41. Following the completion of the sale, the chief operating officer now owns 38,164 shares in the company, valued at approximately $2,784,827.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,564 shares of company stock worth $1,147,884. 1.50% of shares are currently owned by insiders.

Brinker International Institutional Trading

A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in Brinker International by 52.9% in the 4th quarter. Raymond James & Associates now owns 39,274 shares of the restaurant operator’s stock worth $1,696,000 after acquiring an additional 13,582 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Brinker International by 248.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 3,379 shares of the restaurant operator’s stock worth $148,000 after acquiring an additional 2,410 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Brinker International by 4.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,747 shares of the restaurant operator’s stock worth $853,000 after acquiring an additional 874 shares during the period. Louisiana State Employees Retirement System acquired a new position in Brinker International in the 4th quarter valued at about $954,000. Finally, Vontobel Holding Ltd. acquired a new position in Brinker International in the 4th quarter valued at about $291,000.

Brinker International Company Profile

(Get a free report)

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 the Chili’s Grill & Bar and Maggiano’s Little Italy restaurant brands.