Brinker International (NYSE:EAT) Price Target Raised to $170.00 at Barclays

Key Points

• Barclays has increased its price target for Brinker International from $166.00 to $170.00, suggesting a potential upside of 7.81% from the current stock price.
• Brinker International reported a quarterly EPS of $2.49, exceeding analysts' estimates of $2.47, with a significant revenue growth of 21.0% compared to the previous year.
• The company holds a consensus "Hold" rating from analysts, with thirteen ratings at hold and five at buy, and an average price target of $156.65.

Brinker International (NYSE:EAT - Get Free Report) had its price target raised by analysts at Barclays from $166.00 to $170.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the restaurant operator's stock. Barclays's target price indicates a potential upside of 7.57% from the stock's current price.

EAT has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on Brinker International from $200.00 to $215.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Morgan Stanley increased their target price on Brinker International from $144.00 to $149.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Bank of America increased their target price on Brinker International from $185.00 to $186.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on Brinker International from $150.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on Brinker International from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $171.41.

Brinker International Stock Down 0.0%

Brinker International stock traded down $0.04 during mid-day trading on Thursday, hitting $158.04. The company had a trading volume of 1,290,619 shares, compared to its average volume of 1,418,763. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.15. The stock's 50 day moving average price is $167.98 and its two-hundred day moving average price is $158.27. Brinker International has a 12 month low of $65.26 and a 12 month high of $192.21. The company has a market capitalization of $7.02 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 0.36 and a beta of 1.68.

Brinker International (NYSE:EAT - Get Free Report) last released its earnings results on Wednesday, August 13th. The restaurant operator reported $2.49 EPS for the quarter, topping the consensus estimate of $2.47 by $0.02. Brinker International had a return on equity of 211.86% and a net margin of 7.12%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brinker International will post 8.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph Michael Depinto sold 10,000 shares of Brinker International stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $170.36, for a total value of $1,703,600.00. Following the completion of the transaction, the director directly owned 99,297 shares in the company, valued at approximately $16,916,236.92. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harriet Edelman sold 8,325 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $157.00, for a total value of $1,307,025.00. Following the completion of the sale, the director owned 28,905 shares in the company, valued at approximately $4,538,085. This represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Brinker International

Several institutional investors have recently added to or reduced their stakes in EAT. Price T Rowe Associates Inc. MD increased its position in Brinker International by 3,277.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock valued at $130,615,000 after acquiring an additional 958,101 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Brinker International in the 4th quarter valued at approximately $82,408,000. Norges Bank purchased a new stake in Brinker International in the 2nd quarter valued at approximately $98,731,000. Alyeska Investment Group L.P. purchased a new stake in Brinker International in the 1st quarter valued at approximately $76,114,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Brinker International by 86.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,091,692 shares of the restaurant operator's stock valued at $196,865,000 after purchasing an additional 506,087 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.