Evercore ISI Boosts Brinker International (NYSE:EAT) Price Target to $50.00

Brinker International (NYSE:EAT) had its price target raised by Evercore ISI from $48.00 to $50.00 in a research report sent to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the restaurant operator’s stock.

A number of other research analysts have also recently weighed in on EAT. StockNews.com cut shares of Brinker International from a buy rating to a hold rating in a research note on Thursday, February 1st. Jefferies Financial Group raised their target price on shares of Brinker International from $47.00 to $48.00 and gave the stock a hold rating in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of Brinker International from $43.00 to $46.00 and gave the stock a sector perform rating in a research report on Thursday, February 1st. Stifel Nicolaus raised their target price on shares of Brinker International from $50.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brinker International from $44.00 to $48.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $43.80.

Brinker International Trading Up 2.8 %

Shares of Brinker International stock opened at $45.30 on Thursday. The company has a 50-day moving average of $46.85 and a two-hundred day moving average of $40.82. Brinker International has a 12-month low of $28.23 and a 12-month high of $51.72. The stock has a market cap of $2.00 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.71 and a beta of 2.46.

Brinker International (NYSE:EAT) last issued its quarterly earnings data on Wednesday, January 31st. The restaurant operator reported $0.99 earnings per share for the quarter, topping 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 analysts’ expectations of $1.08 billion. On average, sell-side analysts forecast that Brinker International will post 3.71 EPS for the current fiscal year.

Insider Activity at Brinker International

In related news, CFO Joseph G. Taylor sold 24,163 shares of Brinker International stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.97, for a total transaction of $1,086,610.11. Following the transaction, the chief financial officer now 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 this hyperlink. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Brinker International

Several hedge funds and other institutional investors have recently made changes to their positions in EAT. Invesco Ltd. increased its stake in Brinker International by 20.4% during the 3rd quarter. Invesco Ltd. now owns 332,176 shares of the restaurant operator’s stock worth $10,493,000 after buying an additional 56,192 shares during the period. SG Americas Securities LLC increased its stake in Brinker International by 5.5% during the 4th quarter. SG Americas Securities LLC now owns 23,079 shares of the restaurant operator’s stock worth $997,000 after buying an additional 1,205 shares during the period. New York State Common Retirement Fund increased its stake in Brinker International by 63.9% during the 3rd quarter. New York State Common Retirement Fund now owns 31,428 shares of the restaurant operator’s stock worth $993,000 after buying an additional 12,251 shares during the period. Barclays PLC increased its stake in Brinker International by 411.7% during the 3rd quarter. Barclays PLC now owns 170,719 shares of the restaurant operator’s stock worth $5,394,000 after buying an additional 137,354 shares during the period. Finally, FMR LLC increased its stake in Brinker International by 0.8% during the 3rd quarter. FMR LLC now owns 6,694,269 shares of the restaurant operator’s stock worth $211,472,000 after buying an additional 54,628 shares during the period.

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.