Brinker International (NYSE:EAT) Rating Lowered to Sector Weight at KeyCorp

KeyCorp cut shares of Brinker International (NYSE:EAT - Free Report) from an overweight rating to a sector weight rating in a research report sent to investors on Friday, MarketBeat Ratings reports. KeyCorp currently has $115.00 price target on the restaurant operator's stock.

Other equities analysts have also issued research reports about the company. Bank Of America (Bofa) upped their price target on Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of Brinker International from an "overweight" rating to a "neutral" rating and upped their target price for the company from $67.00 to $100.00 in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Brinker International from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Morgan Stanley upgraded shares of Brinker International from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $70.00 to $115.00 in a report on Friday, December 20th. Finally, Evercore ISI lifted their target price on shares of Brinker International from $69.00 to $90.00 and gave the stock an "in-line" rating in a report on Tuesday, October 15th. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.45.

Brinker International Price Performance

NYSE:EAT traded down $4.89 during mid-day trading on Friday, reaching $149.63. 1,278,930 shares of the company were exchanged, compared to its average volume of 1,012,021. Brinker International has a 12 month low of $39.11 and a 12 month high of $155.13. The stock has a market cap of $6.65 billion, a PE ratio of 36.50, a PEG ratio of 1.56 and a beta of 2.52. The company has a quick ratio of 0.26, a current ratio of 0.32 and a debt-to-equity ratio of 63.54. The company has a fifty day moving average of $134.65 and a 200 day moving average of $98.39.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.28 earnings per share. Brinker International's revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts anticipate that Brinker International will post 5.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michaela M. Ware sold 3,753 shares of the company's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares of the company's stock, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.72% of the company's stock.

Institutional Trading of Brinker International

Hedge funds and other institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position in Brinker International by 100.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator's stock valued at $26,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Brinker International by 123.9% during the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator's stock worth $41,000 after acquiring an additional 171 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Brinker International in the fourth quarter valued at approximately $83,000. Xponance Inc. bought a new stake in shares of Brinker International in the second quarter worth $202,000. Finally, Burford Brothers Inc. acquired a new position in Brinker International during the third quarter worth $203,000.

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.