Brinker International (NYSE:EAT) Upgraded at Bank of America

Bank of America upgraded shares of Brinker International (NYSE:EAT) from an underperform rating to a neutral rating in a research report report published on Thursday morning, Marketbeat.com reports. They currently have $90.00 price target on the restaurant operator’s stock, up from their prior price target of $63.00.

A number of other equities research analysts have also recently issued reports on EAT. Citigroup boosted their price objective on Brinker International from $69.00 to $83.00 and gave the company a neutral rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Brinker International from $42.00 to $50.00 and gave the stock an underweight rating in a report on Tuesday, July 16th. Wedbush reissued a neutral rating and set a $68.00 target price on shares of Brinker International in a report on Thursday, August 15th. Evercore ISI raised their price target on Brinker International from $65.00 to $69.00 and gave the stock an in-line rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price objective on Brinker International from $45.00 to $50.00 and gave the company an underweight rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $66.26.

Brinker International Stock Performance

NYSE EAT opened at $83.48 on Thursday. The company has a market capitalization of $3.71 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51. The company has a debt-to-equity ratio of 19.96, a quick ratio of 0.32 and a current ratio of 0.38. Brinker International has a 52-week low of $29.65 and a 52-week high of $84.76. The company has a 50-day simple moving average of $72.57 and a 200 day simple moving average of $65.31.

Brinker International (NYSE:EAT) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). Brinker International had a negative return on equity of 274.62% and a net margin of 3.52%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $1.39 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts predict that Brinker International will post 4.66 EPS for the current year.

Hedge Funds Weigh In On Brinker International

Institutional investors have recently made changes to their positions in the stock. Bridgefront Capital LLC bought a new position in Brinker International in the fourth quarter valued at $333,000. Vanguard Group Inc. lifted its position in Brinker International by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,399,920 shares of the restaurant operator’s stock worth $233,169,000 after buying an additional 30,861 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Brinker International by 11.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 11,419 shares of the restaurant operator’s stock worth $567,000 after buying an additional 1,170 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Brinker International in the first quarter worth approximately $99,000. Finally, Allspring Global Investments Holdings LLC grew its position in Brinker International by 8.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,190 shares of the restaurant operator’s stock valued at $705,000 after acquiring an additional 1,111 shares during the last quarter.

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.