Brinker International (NYSE:EAT) Hits New 52-Week High - Here's What Happened

Brinker International, Inc. (NYSE:EAT - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $97.00 and last traded at $96.90, with a volume of 23381 shares trading hands. The stock had previously closed at $94.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upped their price objective on shares of Brinker International from $66.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Argus cut shares of Brinker International from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. BMO Capital Markets decreased their target price on shares of Brinker International from $85.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, August 15th. Morgan Stanley raised their price objective on Brinker International from $42.00 to $50.00 and gave the stock an "underweight" rating in a report on Tuesday, July 16th. Finally, Raymond James downgraded Brinker International from an "outperform" rating to a "market perform" rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $74.62.

Brinker International Stock Performance

The company has a debt-to-equity ratio of 19.96, a quick ratio of 0.32 and a current ratio of 0.38. The stock has a market cap of $4.35 billion, a P/E ratio of 29.00, a PEG ratio of 1.35 and a beta of 2.51. The stock has a fifty day simple moving average of $77.96 and a 200-day simple moving average of $68.36.

Brinker International (NYSE:EAT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). The firm had revenue of $1.21 billion for 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 was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, equities analysts expect that Brinker International, Inc. will post 4.66 earnings per share for the current year.

Institutional Investors Weigh In On Brinker International

Several hedge funds and other institutional investors have recently made changes to their positions in EAT. NorthCrest Asset Manangement LLC grew its position in Brinker International by 1.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator's stock worth $920,000 after acquiring an additional 135 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Brinker International by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator's stock valued at $967,000 after buying an additional 169 shares during the last quarter. CWM LLC boosted its position in Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator's stock worth $30,000 after buying an additional 204 shares during the period. Arizona State Retirement System boosted its position in Brinker International by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator's stock worth $896,000 after buying an additional 234 shares during the period. Finally, Signaturefd LLC grew its holdings in Brinker International by 33.2% during the 2nd quarter. Signaturefd LLC now owns 986 shares of the restaurant operator's stock worth $71,000 after acquiring an additional 246 shares during the last quarter.

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.