Brinker International (NYSE:EAT) Sets New 12-Month High After Analyst Upgrade

Key Points

• Brinker International shares reached a new 52-week high after UBS Group raised its price target from $190 to $260 and reiterated a buy rating. The stock traded as high as $232.47.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $196.75; the latest targets from several firms have been raised in recent weeks.
• Institutional interest has increased, with UBS, Balyasny Asset Management, Capital World Investors and Samlyn Capital all significantly expanding their Brinker positions, while Norges Bank initiated a new stake.

Shares of Brinker International, Inc. (NYSE:EAT - Get Free Report) hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $190.00 to $260.00. UBS Group currently has a buy rating on the stock. Brinker International traded as high as $232.47 and last traded at $229.82, with a volume of 83794 shares trading hands. The stock had previously closed at $227.54.

EAT has been the subject of a number of other reports. Stephens initiated coverage on shares of Brinker International in a research report on Friday, July 17th. They issued an "overweight" rating and a $220.00 price objective for the company. Citigroup boosted their price target on Brinker International from $189.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Wells Fargo & Company increased their price target on Brinker International from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. KeyCorp raised their price objective on Brinker International from $177.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, Barclays lifted their price objective on Brinker International from $170.00 to $175.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Brinker International presently has a consensus rating of "Moderate Buy" and an average price target of $196.75.

Institutional Investors Weigh In On Brinker International

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG increased its stake in Brinker International by 103.2% during the fourth quarter. UBS Group AG now owns 2,975,655 shares of the restaurant operator's stock valued at $427,066,000 after purchasing an additional 1,511,266 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Brinker International by 667.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,142,263 shares of the restaurant operator's stock valued at $163,938,000 after buying an additional 993,435 shares during the period. Norges Bank acquired a new position in shares of Brinker International in the 4th quarter valued at about $83,603,000. Capital World Investors grew its position in shares of Brinker International by 96.5% during the 4th quarter. Capital World Investors now owns 1,137,863 shares of the restaurant operator's stock valued at $163,306,000 after buying an additional 558,799 shares during the last quarter. Finally, Samlyn Capital LLC grew its position in shares of Brinker International by 104.9% during the 3rd quarter. Samlyn Capital LLC now owns 878,584 shares of the restaurant operator's stock valued at $111,299,000 after buying an additional 449,871 shares during the last quarter.

Brinker International Trading Up 0.0%

The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23. The firm's 50 day moving average is $179.22 and its two-hundred day moving average is $158.65. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.05.

About Brinker International

Brinker International, Inc NYSE: EAT is a leading global operator of casual dining restaurants. The company's portfolio is anchored by its flagship Chili's® Grill & Bar concept and Maggiano's® Little Italy full‐service restaurants, offering a range of American‐style menu items, handcrafted cocktails and family‐friendly dining experiences. Through dine‐in, takeout, delivery and catering services, Brinker seeks to meet consumer preferences across multiple channels.

The Chili's brand features signature items such as baby back ribs, burgers and fajitas alongside a rotating selection of limited‐time offerings and seasonal beverages.

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