Brinker International (NYSE:EAT) Reaches New 1-Year High - Still a Buy?

Brinker International, Inc. (NYSE:EAT - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $138.60 and last traded at $138.02, with a volume of 222203 shares trading hands. The stock had previously closed at $132.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EAT. Argus raised Brinker International from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Tuesday, December 24th. Barclays increased their price target on shares of Brinker International from $76.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Bank Of America (Bofa) upped their price objective on shares of Brinker International from $94.00 to $97.00 in a research report on Tuesday, October 29th. BMO Capital Markets lowered shares of Brinker International from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $80.00 to $105.00 in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upgraded Brinker International from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $95.00 to $130.00 in a research note on Thursday, December 12th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $98.53.

Brinker International Price Performance

The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 1.46 and a beta of 2.51. The stock's fifty day moving average price is $122.68 and its 200-day moving average price is $89.98. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.26. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. Brinker International's revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. As a group, equities research analysts forecast that Brinker International, Inc. will post 5.43 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Brinker International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of Brinker International by 13,850.1% in the second quarter. Marshall Wace LLP now owns 1,057,416 shares of the restaurant operator's stock valued at $76,546,000 after acquiring an additional 1,049,836 shares in the last quarter. Geode Capital Management LLC lifted its stake in Brinker International by 0.8% in the third quarter. Geode Capital Management LLC now owns 998,278 shares of the restaurant operator's stock worth $76,413,000 after acquiring an additional 8,105 shares during the last quarter. Millennium Management LLC grew its holdings in Brinker International by 31.7% during the 2nd quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator's stock worth $68,228,000 after acquiring an additional 227,047 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Brinker International by 4.3% in the 3rd quarter. Fisher Asset Management LLC now owns 691,230 shares of the restaurant operator's stock valued at $52,900,000 after purchasing an additional 28,373 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Brinker International by 55.1% in the 3rd quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator's stock valued at $47,351,000 after purchasing an additional 219,836 shares in the last quarter.

Brinker International Company Profile

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.