Brinker International (NYSE:EAT) Price Target Raised to $39.00 at Morgan Stanley

Brinker International (NYSE:EAT - Get Free Report) had its price objective increased by analysts at Morgan Stanley from $36.00 to $39.00 in a report released on Friday, Benzinga reports. The firm currently has an "underweight" rating on the restaurant operator's stock. Morgan Stanley's price objective would suggest a potential downside of 13.79% from the company's previous close.

EAT has been the subject of a number of other reports. Raymond James boosted their target price on shares of Brinker International from $45.00 to $50.00 and gave the company a "strong-buy" rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of Brinker International from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. Barclays increased their target price on shares of Brinker International from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 3rd. Royal Bank of Canada increased their price target on shares of Brinker International from $43.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 1st. Finally, BMO Capital Markets increased their price target on shares of Brinker International from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $43.00.

Brinker International Price Performance

Shares of NYSE:EAT traded down $1.41 during trading on Friday, reaching $45.24. 1,624,940 shares of the company's stock traded hands, compared to its average volume of 1,287,733. Brinker International has a 12 month low of $28.23 and a 12 month high of $51.72. The company has a 50 day moving average of $46.81 and a 200-day moving average of $40.42. The stock has a market capitalization of $2.00 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.77 and a beta of 2.46.

Brinker International (NYSE:EAT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.05. Brinker International had a net margin of 3.63% and a negative return on equity of 113.41%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. Equities research analysts predict that Brinker International will post 3.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Brinker International news, CFO Joseph G. Taylor sold 24,163 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total value of $1,086,610.11. Following the sale, the chief financial officer now directly owns 56,661 shares in the company, valued at approximately $2,548,045.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Brinker International

A number of hedge funds and other institutional investors have recently made changes to their positions in EAT. Cooper Creek Partners Management LLC bought a new position in shares of Brinker International during the 3rd quarter worth about $57,246,000. Alyeska Investment Group L.P. lifted its holdings in Brinker International by 2,694.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 761,011 shares of the restaurant operator's stock valued at $29,040,000 after purchasing an additional 733,782 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Brinker International by 86.0% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,389,928 shares of the restaurant operator's stock valued at $52,817,000 after purchasing an additional 642,666 shares during the last quarter. Holocene Advisors LP lifted its holdings in Brinker International by 32.1% during the 2nd quarter. Holocene Advisors LP now owns 2,451,624 shares of the restaurant operator's stock valued at $89,729,000 after purchasing an additional 595,818 shares during the last quarter. Finally, Boston Partners bought a new position in Brinker International during the 4th quarter valued at about $20,401,000.

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.