Argus Upgrades Brinker International (NYSE:EAT) to Buy

Brinker International (NYSE:EAT) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Tuesday,Briefing.com Automated Import reports. The firm currently has a $150.00 target price on the restaurant operator’s stock. Argus’ price objective points to a potential upside of 12.71% from the company’s previous close.

Several other equities research analysts have also weighed in on EAT. Citigroup lifted their price objective on Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut shares of Brinker International from an “overweight” rating to a “neutral” rating and upped their price target for the company from $67.00 to $100.00 in a research note on Thursday, October 31st. UBS Group boosted their target price on shares of Brinker International from $70.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised Brinker International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $95.00 to $130.00 in a report on Thursday, December 12th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.53.

Brinker International Stock Performance

Shares of EAT stock opened at $133.09 on Tuesday. The company has a debt-to-equity ratio of 63.54, a quick ratio of 0.26 and a current ratio of 0.32. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 1.46 and a beta of 2.51. Brinker International has a 52 week low of $37.25 and a 52 week high of $136.15. The firm’s 50-day simple moving average is $116.73 and its two-hundred day simple moving average is $86.85.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. Brinker International had a net margin of 4.11% and a negative return on equity of 839.19%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. Brinker International’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that Brinker International will post 5.43 earnings per share for the current year.

Insider Transactions at Brinker International

In other Brinker International news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares in the company, valued at approximately $2,376,774.42. This trade represents a 13.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Brinker International

Large investors have recently bought and sold shares of the company. NorthCrest Asset Manangement LLC boosted its position in shares of Brinker International by 1.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 135 shares in the last quarter. Optimist Retirement Group LLC increased its stake in shares of Brinker International by 6.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 3,256 shares of the restaurant operator’s stock worth $249,000 after acquiring an additional 187 shares in the last quarter. Arizona State Retirement System lifted 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 valued at $896,000 after acquiring an additional 234 shares during the period. Signaturefd LLC grew its holdings in Brinker International by 33.2% in the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 246 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Brinker International by 2.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,863 shares of the restaurant operator’s stock valued at $2,132,000 after purchasing an additional 732 shares in 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.