Brinker International (NYSE:EAT) Trading 8.4% Higher - Here's What Happened

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EAT shares. JPMorgan Chase & Co. lifted their price objective on Brinker International from $140.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Wedbush raised their price target on Brinker International from $140.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Stifel Nicolaus upped their price objective on Brinker International from $155.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Citigroup cut their price objective on 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, BMO Capital Markets boosted their target price on shares of Brinker International from $105.00 to $125.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $141.14.

Brinker International Stock Up 6.7%

The company has a debt-to-equity ratio of 4.96, a current ratio of 0.33 and a quick ratio of 0.27. The firm's 50-day moving average price is $146.46 and its 200 day moving average price is $144.51. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66.

Brinker International (NYSE:EAT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The restaurant operator reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.18. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Brinker International had a return on equity of 879.47% and a net margin of 5.45%. Brinker International's revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Sell-side analysts expect that Brinker International, Inc. will post 8.3 EPS for the current year.

Insider Activity at Brinker International

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

Institutional Trading of Brinker International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Brinker International by 3,277.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 987,334 shares of the restaurant operator's stock valued at $130,615,000 after purchasing an additional 958,101 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Brinker International in the 4th quarter worth about $82,408,000. Alyeska Investment Group L.P. purchased a new stake in Brinker International in the 1st quarter valued at about $76,114,000. Westfield Capital Management Co. LP increased its stake in shares of Brinker International by 102.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 995,713 shares of the restaurant operator's stock valued at $148,411,000 after acquiring an additional 502,897 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Brinker International during the 4th quarter valued at about $61,929,000.

Brinker International Company Profile

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.

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