Brinker International (NYSE:EAT) Lowered to “Sector Weight” Rating by KeyCorp

Brinker International (NYSE:EAT) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

A number of other equities analysts have also recently issued reports on the company. UBS Group upped their price objective on Brinker International from $108.00 to $146.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler upped their target price on Brinker International from $62.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America lifted their price target on shares of Brinker International from $97.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Bank Of America (Bofa) upped their price objective on shares of Brinker International from $94.00 to $97.00 in a research note on Tuesday, October 29th. Finally, Citigroup lifted their target price on shares of Brinker International from $83.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brinker International currently has an average rating of “Hold” and a consensus price target of $109.08.

Brinker International Stock Up 1.5 %

Shares of NYSE EAT opened at $154.84 on Friday. The business has a 50-day moving average of $134.01 and a 200-day moving average of $97.84. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 1.57 and a beta of 2.52. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. Brinker International has a 12 month low of $38.96 and a 12 month high of $155.13.

Brinker International (NYSE:EAT) last posted its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.28 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Brinker International will post 5.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Brinker International

Hedge funds have recently made changes to their positions in the company. Hennessy Advisors Inc. bought a new position in Brinker International in the fourth quarter worth $81,888,000. Assenagon Asset Management S.A. increased its stake in shares of Brinker International by 2,612.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 588,594 shares of the restaurant operator’s stock worth $77,865,000 after acquiring an additional 566,894 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Brinker International by 1,145.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 416,044 shares of the restaurant operator’s stock valued at $55,038,000 after acquiring an additional 382,633 shares during the period. Millennium Management LLC boosted its stake in Brinker International by 31.7% during the second quarter. Millennium Management LLC now owns 942,510 shares of the restaurant operator’s stock worth $68,228,000 after acquiring an additional 227,047 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Brinker International by 55.1% in the third quarter. Wellington Management Group LLP now owns 618,728 shares of the restaurant operator’s stock worth $47,351,000 after purchasing an additional 219,836 shares during the period.

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.