Brinker International (NYSE:EAT) Downgraded to Market Perform at Raymond James

Brinker International (NYSE:EAT) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, FinViz reports.

Several other analysts also recently weighed in on the company. BMO Capital Markets reduced their target price on Brinker International from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. KeyCorp raised shares of Brinker International from a “sector weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a report on Thursday, August 15th. Evercore ISI lifted their price objective on shares of Brinker International from $69.00 to $90.00 and gave the company an “in-line” rating in a research note on Tuesday. Citigroup raised their price target on Brinker International from $69.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Barclays boosted their target price on Brinker International from $53.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.50.

Brinker International Price Performance

Shares of EAT opened at $90.80 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 19.96. The firm’s fifty day simple moving average is $74.26 and its 200-day simple moving average is $66.04. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.35 and a beta of 2.51. Brinker International has a twelve month low of $31.91 and a twelve month high of $91.25.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Brinker International had a net margin of 3.52% and a negative return on equity of 274.62%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. Equities analysts forecast that Brinker International will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EAT. Transcendent Capital Group LLC acquired a new position in Brinker International in the first quarter valued at $25,000. CWM LLC increased its stake in shares of Brinker International by 96.2% during the 2nd quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 204 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Brinker International during the 1st quarter valued at about $47,000. Hollencrest Capital Management purchased a new position in shares of Brinker International during the 1st quarter worth about $50,000. Finally, Covestor Ltd boosted its position in shares of Brinker International by 32,500.0% in the first quarter. Covestor Ltd now owns 1,304 shares of the restaurant operator’s stock worth $65,000 after acquiring an additional 1,300 shares during the last quarter.

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.