Wedbush Increases Brinker International (NYSE:EAT) Price Target to $47.00

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

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

Brinker International Stock Performance

Shares of Brinker International stock opened at $48.87 on Friday. Brinker International has a one year low of $28.23 and a one year high of $51.72. The stock’s fifty day moving average is $47.17 and its 200 day moving average is $41.54. The stock has a market cap 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 announced its earnings results on Wednesday, January 31st. The restaurant operator reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05. Brinker International had a negative return on equity of 113.41% and a net margin of 3.63%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Analysts predict that Brinker International will post 3.71 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Joseph G. Taylor sold 24,163 shares of the business’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 value of $1,086,610.11. Following the completion of the sale, the chief financial officer now directly owns 56,661 shares in the company, valued at $2,548,045.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Brinker International

A number of institutional investors and hedge funds have recently made changes to their positions in EAT. SG Americas Securities LLC purchased a new stake in shares of Brinker International in the third quarter valued at approximately $691,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Brinker International in the 3rd quarter valued at $296,000. Allspring Global Investments Holdings LLC increased its holdings in Brinker International by 3.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,408 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 487 shares during the period. Bogart Wealth LLC increased its holdings in Brinker International by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, James Investment Research Inc. increased its holdings in Brinker International by 14.3% during the 3rd quarter. James Investment Research Inc. now owns 22,333 shares of the restaurant operator’s stock worth $705,000 after purchasing an additional 2,794 shares during the period.

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.