Brinker International (NYSE:EAT) Stock Moved Down to “Hold” by Zacks Research

Brinker International (NYSE:EAT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also recently weighed in on EAT. TD Cowen boosted their target price on Brinker International from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Bank of America raised their price objective on Brinker International from $224.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings cut shares of Brinker International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Freedom Broker raised shares of Brinker International to a “strong-buy” rating in a research note on Friday, September 18th. Finally, BMO Capital Markets lifted their price target on shares of Brinker International from $175.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Brinker International Price Performance

Shares of Brinker International stock opened at $220.66 on Tuesday. The firm has a market cap of $9.17 billion, a PE ratio of 19.42, a P/E/G ratio of 1.04 and a beta of 1.37. Brinker International has a twelve month low of $100.30 and a twelve month high of $254.99. The business has a 50-day moving average price of $207.25 and a 200 day moving average price of $175.28. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 1.13.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, October 28th. The restaurant operator reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.32. Brinker International had a net margin of 8.44% and a return on equity of 125.65%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Brinker International will post 13.70 earnings per share for the current fiscal year.

Insider Activity at Brinker International

In related news, Director Joseph DePinto sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $230.39, for a total value of $5,759,750.00. Following the sale, the director owned 77,812 shares of the company’s stock, valued at $17,927,106.68. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michaela M. Ware sold 3,030 shares of Brinker International stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $233.48, for a total transaction of $707,444.40. Following the completion of the transaction, the executive vice president owned 17,494 shares of the company’s stock, valued at $4,084,499.12. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,694 shares of company stock worth $50,383,890 over the last quarter. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EAT. Fifth Third Wealth Advisors LLC raised its holdings in shares of Brinker International by 3.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,532 shares of the restaurant operator’s stock valued at $296,000 after purchasing an additional 54 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Brinker International by 4.3% during the third quarter. Brighton Jones LLC now owns 1,544 shares of the restaurant operator’s stock worth $299,000 after purchasing an additional 64 shares in the last quarter. Smith Group Asset Management LLC grew its stake in shares of Brinker International by 0.5% during the second quarter. Smith Group Asset Management LLC now owns 20,669 shares of the restaurant operator’s stock worth $3,472,000 after purchasing an additional 104 shares in the last quarter. Vise Technologies Inc. increased its holdings in Brinker International by 6.6% in the third quarter. Vise Technologies Inc. now owns 2,078 shares of the restaurant operator’s stock valued at $402,000 after buying an additional 129 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new position in Brinker International in the third quarter valued at $28,000.

Brinker International Company Profile

Brinker International, Inc is a casual-dining restaurant company that owns, operates and franchises restaurants in the United States and select international markets. The company is headquartered in Dallas, Texas, and serves customers through company-operated and franchised locations.

Brinker’s principal brands are Chili’s Grill & Bar and Maggiano’s Little Italy. Chili’s offers a broad menu of burgers, steaks, ribs, fajitas, Tex-Mex dishes, salads and beverages in a full-service, casual setting.