Brinker International, Inc. (NYSE:EAT – Get Free Report) fell 3.2% on Friday after Piper Sandler lowered their price target on the stock from $40.00 to $35.00. Piper Sandler currently has a neutral rating on the stock. Brinker International traded as low as $30.63 and last traded at $30.70. 209,563 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,009,274 shares. The stock had previously closed at $31.72.
Other equities research analysts have also recently issued research reports about the company. Barclays lifted their price target on Brinker International from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Thursday, August 17th. Wedbush reissued a “neutral” rating and issued a $37.00 price target on shares of Brinker International in a research note on Thursday, August 17th. Morgan Stanley cut their price objective on shares of Brinker International from $40.00 to $38.00 in a research note on Thursday, June 8th. StockNews.com assumed coverage on shares of Brinker International in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada boosted their price target on shares of Brinker International from $40.00 to $41.00 in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brinker International has an average rating of “Hold” and an average target price of $37.57.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in shares of Brinker International during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. acquired a new stake in shares of Brinker International during the first quarter worth $32,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Brinker International during the fourth quarter valued at $31,000. Quarry LP boosted its position in shares of Brinker International by 242.1% in the 2nd quarter. Quarry LP now owns 1,016 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 719 shares during the period. Finally, Advisory Services Network LLC increased its stake in Brinker International by 276.5% in the 1st quarter. Advisory Services Network LLC now owns 1,600 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 1,175 shares in the last quarter.
Brinker International Trading Down 2.9 %
The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.21 and a beta of 2.38. The company has a fifty day simple moving average of $35.20 and a 200-day simple moving average of $36.62.
Brinker International (NYSE:EAT – Get Free Report) last released its quarterly earnings results on Wednesday, August 16th. The restaurant operator reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Brinker International had a net margin of 2.48% and a negative return on equity of 55.47%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, analysts anticipate that Brinker International, Inc. will post 3.35 earnings per share for the current year.
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.