Brinker International (EAT) Price Target Raised to $40.00 at Morgan Stanley

Brinker International (NYSE:EAT) had its target price upped by equities research analysts at Morgan Stanley from $38.00 to $40.00 in a report issued on Wednesday. The brokerage presently has an “underweight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective points to a potential downside of 8.74% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Barclays upped their price target on Brinker International from $46.00 to $50.00 and gave the company a “$49.71” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Brinker International from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, July 3rd. Maxim Group reissued a “buy” rating and set a $55.00 price target on shares of Brinker International in a research report on Tuesday, August 7th. TheStreet lowered Brinker International from a “b-” rating to a “c” rating in a research report on Wednesday, August 15th. Finally, Canaccord Genuity dropped their target price on Brinker International from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Brinker International presently has an average rating of “Hold” and an average target price of $46.19.

EAT stock opened at $43.83 on Wednesday. The company has a market cap of $1.86 billion, a P/E ratio of 12.61, a PEG ratio of 1.35 and a beta of -0.06. Brinker International has a 12-month low of $31.55 and a 12-month high of $54.14.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $753.80 million for the quarter, compared to analyst estimates of $756.40 million. Brinker International had a negative return on equity of 23.89% and a net margin of 4.52%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Research analysts predict that Brinker International will post 3.76 earnings per share for the current year.

In other Brinker International news, EVP Kelli Valade sold 4,905 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $43.37, for a total value of $212,729.85. Following the sale, the executive vice president now directly owns 74,068 shares of the company’s stock, valued at $3,212,329.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Brinker International by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,310,802 shares of the restaurant operator’s stock valued at $62,397,000 after purchasing an additional 5,541 shares during the period. Contrarius Investment Management Ltd increased its holdings in shares of Brinker International by 61.1% during the second quarter. Contrarius Investment Management Ltd now owns 1,116,833 shares of the restaurant operator’s stock valued at $53,161,000 after purchasing an additional 423,705 shares during the period. Millennium Management LLC increased its holdings in shares of Brinker International by 2,460.9% during the second quarter. Millennium Management LLC now owns 576,652 shares of the restaurant operator’s stock valued at $27,449,000 after purchasing an additional 601,077 shares during the period. Copper Rock Capital Partners LLC acquired a new position in shares of Brinker International during the third quarter valued at $23,778,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Brinker International by 398.5% during the second quarter. Point72 Asset Management L.P. now owns 414,947 shares of the restaurant operator’s stock valued at $19,751,000 after purchasing an additional 331,705 shares during the period.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

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