Brinker International (NYSE:EAT) Reaches New 52-Week High After Earnings Beat

Brinker International, Inc. (NYSE:EAT) reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $53.27 and last traded at $52.92, with a volume of 805537 shares. The stock had previously closed at $49.66.

The restaurant operator reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts have commented on EAT shares. Morgan Stanley raised their price objective on Brinker International from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Jefferies Financial Group lifted their price objective on Brinker International from $47.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Royal Bank of Canada raised their target price on shares of Brinker International from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on shares of Brinker International from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Brinker International from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brinker International has an average rating of “Hold” and an average target price of $46.06.

Insider Buying and Selling at Brinker International

In other news, CFO Joseph G. Taylor sold 24,163 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total value of $1,086,610.11. Following the sale, the chief financial officer now owns 56,661 shares in the company, valued at $2,548,045.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Several institutional investors and hedge funds have recently modified their holdings of EAT. Victory Capital Management Inc. raised its position in Brinker International by 1.3% during the fourth quarter. Victory Capital Management Inc. now owns 17,318 shares of the restaurant operator’s stock valued at $748,000 after acquiring an additional 230 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Brinker International by 12.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,070 shares of the restaurant operator’s stock worth $89,000 after purchasing an additional 235 shares during the period. Signaturefd LLC increased its holdings in shares of Brinker International by 68.9% during the 3rd quarter. Signaturefd LLC now owns 946 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 386 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Brinker International by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,408 shares of the restaurant operator’s stock valued at $424,000 after purchasing an additional 487 shares during the period. Finally, Bogart Wealth LLC lifted its stake in shares of Brinker International by 100.0% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 500 shares during the period.

Brinker International Price Performance

The stock has a market capitalization of $2.43 billion, a PE ratio of 16.12, a P/E/G ratio of 0.81 and a beta of 2.46. The stock’s fifty day moving average is $47.44 and its 200-day moving average is $41.99.

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.