Brinker International (NYSE:EAT) Shares Up 8.4% - Here's What Happened

Shares of Brinker International, Inc. (NYSE:EAT - Get Free Report) traded up 8.4% during trading on Tuesday . The company traded as high as $166.79 and last traded at $167.50. 875,932 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,491,188 shares. The stock had previously closed at $154.53.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays reduced their price target on shares of Brinker International from $165.00 to $155.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Citigroup reduced their price target on shares of Brinker International from $185.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company reduced their price target on shares of Brinker International from $165.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Brinker International has a consensus rating of "Hold" and an average target price of $141.14.

Brinker International Stock Performance

The company has a market cap of $7.69 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The firm's fifty day moving average is $147.83 and its 200 day moving average is $145.70. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 4.96.

Brinker International (NYSE:EAT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 EPS for the quarter, topping the consensus estimate of $2.48 by $0.18. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Brinker International had a net margin of 5.45% and a return on equity of 879.47%. The firm's revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. As a group, research analysts predict that Brinker International, Inc. will post 8.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ramona Hood sold 777 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $135.23, for a total transaction of $105,073.71. Following the completion of the sale, the director now owns 8,568 shares of the company's stock, valued at $1,158,650.64. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Douglas N. Comings sold 2,350 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $135.91, for a total transaction of $319,388.50. Following the sale, the chief operating officer now directly owns 20,591 shares of the company's stock, valued at $2,798,522.81. The trade was a 10.24% decrease in their position. The disclosure for this sale can be found here. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new position in shares of Brinker International during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC boosted its position in shares of Brinker International by 575.0% during the 1st quarter. Farther Finance Advisors LLC now owns 189 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 161 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Brinker International during the 1st quarter valued at about $30,000. Continuum Advisory LLC boosted its position in shares of Brinker International by 1,714.3% during the 1st quarter. Continuum Advisory LLC now owns 254 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 240 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Brinker International by 227.3% during the 1st quarter. National Bank of Canada FI now owns 252 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 175 shares during 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.