Brinker International (NYSE:EAT) Shares Gap Down – What’s Next?

Brinker International, Inc. (NYSE:EAT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $154.52, but opened at $151.07. Brinker International shares last traded at $149.28, with a volume of 169,834 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EAT shares. UBS Group increased their price objective on shares of Brinker International from $108.00 to $146.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Bank of America upped their price objective on Brinker International from $97.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley raised shares of Brinker International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $115.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered Brinker International from an “overweight” rating to a “neutral” rating and increased their price target for the company from $67.00 to $100.00 in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their target price on shares of Brinker International from $62.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.45.

Brinker International Stock Down 3.4 %

The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 63.54. The firm has a market cap of $6.63 billion, a P/E ratio of 36.40, a P/E/G ratio of 1.56 and a beta of 2.52. The business’s fifty day moving average price is $134.01 and its two-hundred day moving average price is $97.84.

Brinker International (NYSE:EAT) last announced its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.26. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Brinker International, Inc. will post 5.96 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michaela M. Ware sold 3,753 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the transaction, the chief financial officer now directly owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. This represents a 13.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC grew its stake in Brinker International by 100.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 200 shares of the restaurant operator’s stock worth $26,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC grew its holdings in Brinker International by 123.9% during the 4th quarter. GAMMA Investing LLC now owns 309 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 171 shares during the last quarter. R Squared Ltd acquired a new stake in Brinker International in the 4th quarter valued at about $83,000. Xponance Inc. acquired a new position in shares of Brinker International during the second quarter worth approximately $202,000. Finally, Burford Brothers Inc. bought a new stake in shares of Brinker International during the third quarter valued at approximately $203,000.

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.