Brinker International (NYSE:EAT) Reaches New 52-Week High on Analyst Upgrade

Brinker International, Inc. (NYSE:EAT - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $90.00 to $94.00. Bank of America currently has a neutral rating on the stock. Brinker International traded as high as $93.93 and last traded at $93.91, with a volume of 723619 shares traded. The stock had previously closed at $92.46.

EAT has been the topic of several other reports. Wells Fargo & Company increased their price target on shares of Brinker International from $50.00 to $85.00 and gave the company an "underweight" rating in a research note on Monday. Barclays boosted their target price on Brinker International from $53.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Citigroup raised their price target on Brinker International from $69.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Evercore ISI boosted their price objective on Brinker International from $69.00 to $90.00 and gave the stock an "in-line" rating in a report on Tuesday, October 15th. Finally, Raymond James lowered shares of Brinker International from an "outperform" rating to a "market perform" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Brinker International currently has a consensus rating of "Hold" and a consensus price target of $74.03.

Institutional Trading of Brinker International

Several hedge funds have recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new stake in shares of Brinker International during the first quarter worth $25,000. CWM LLC lifted its holdings in shares of Brinker International by 96.2% in the second quarter. CWM LLC now owns 416 shares of the restaurant operator's stock valued at $30,000 after purchasing an additional 204 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Brinker International in the first quarter valued at about $47,000. Hollencrest Capital Management acquired a new position in shares of Brinker International during the first quarter worth about $50,000. Finally, Covestor Ltd grew its holdings in shares of Brinker International by 32,500.0% during the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator's stock worth $65,000 after buying an additional 1,300 shares in the last quarter.

Brinker International Stock Performance

The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51. The stock has a 50-day moving average of $75.25 and a 200-day moving average of $66.72. The company has a debt-to-equity ratio of 19.96, a quick ratio of 0.32 and a current ratio of 0.38.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). The business 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 274.62% and a net margin of 3.52%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. As a group, analysts anticipate that Brinker International, Inc. will post 4.66 EPS for the current fiscal 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.