Brinker International (NYSE:EAT) Now Covered by Seaport Research Partners

Seaport Research Partners began coverage on shares of Brinker International (NYSE:EAT) in a research report issued on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $230.00 price target on the restaurant operator’s stock. Seaport Research Partners’ price objective would suggest a potential upside of 13.02% from the stock’s previous close.

Several other research analysts have also issued reports on EAT. Piper Sandler increased their price target on shares of Brinker International from $166.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Wells Fargo & Company raised their target price on shares of Brinker International from $220.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Bank of America lifted their target price on shares of Brinker International from $224.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 14th. Northcoast Research downgraded Brinker International from a “buy” rating to a “neutral” rating in a research note on Friday, August 14th. Finally, DA Davidson dropped their target price on Brinker International from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.30.

Brinker International Trading Down 5.0%

Shares of NYSE:EAT opened at $203.50 on Wednesday. The business’s 50 day simple moving average is $215.85 and its 200 day simple moving average is $171.89. Brinker International has a 1 year low of $100.30 and a 1 year high of $254.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.45 and a quick ratio of 0.40. The company has a market capitalization of $8.50 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.10 and a beta of 1.25.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, August 12th. The restaurant operator reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Brinker International had a net margin of 8.39% and a return on equity of 122.35%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.30 earnings per share. Brinker International has set its FY 2027 guidance at 12.600-13.400 EPS. On average, research analysts anticipate that Brinker International will post 13.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Brinker International news, Director James Katzman sold 650 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $220.09, for a total value of $143,058.50. Following the completion of the transaction, the director owned 25,094 shares of the company’s stock, valued at approximately $5,522,938.46. The trade was a 2.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $240.37, for a total transaction of $2,403,700.00. Following the completion of the sale, the senior vice president owned 9,064 shares in the company, valued at $2,178,713.68. This represents a 52.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 173,694 shares of company stock worth $41,568,690 in the last three months. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Brinker International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Brinker International by 2.2% in the 2nd quarter. BlackRock Inc. now owns 6,729,477 shares of the restaurant operator’s stock worth $1,130,552,000 after purchasing an additional 145,525 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Brinker International by 0.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,170,612 shares of the restaurant operator’s stock worth $167,128,000 after purchasing an additional 9,692 shares during the period. Balyasny Asset Management L.P. grew its holdings in Brinker International by 667.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,142,263 shares of the restaurant operator’s stock valued at $163,938,000 after buying an additional 993,435 shares in the last quarter. Capital World Investors raised its position in shares of Brinker International by 96.5% during the fourth quarter. Capital World Investors now owns 1,137,863 shares of the restaurant operator’s stock valued at $163,306,000 after buying an additional 558,799 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Brinker International during the fourth quarter valued at approximately $83,603,000.

About Brinker International

Brinker International, Inc is a Dallas-based restaurant company that owns, operates and franchises casual dining restaurants. Its portfolio includes Chili’s Grill & Bar, a full-service restaurant brand known for burgers, fajitas, ribs, steaks, Tex-Mex dishes and a broad beverage menu, and Maggiano’s Little Italy, which specializes in Italian-American cuisine and family-style dining.

Chili’s restaurants serve a wide range of lunch and dinner offerings in a casual, bar-and-grill setting, while Maggiano’s locations offer traditional Italian dishes, including pasta, chicken, seafood and desserts.