Brinker International (NYSE:EAT) Given New $43.00 Price Target at Morgan Stanley

Brinker International (NYSE:EAT) had its price target reduced by Morgan Stanley from $47.00 to $43.00 in a research note issued to investors on Friday, PriceTargets.com reports. They currently have an equal weight rating on the restaurant operator’s stock.

EAT has been the topic of a number of other reports. Stephens decreased their price target on Brinker International from $68.00 to $64.00 and set an overweight rating on the stock in a report on Thursday, October 21st. Wedbush decreased their price target on Brinker International from $69.00 to $54.00 and set an outperform rating on the stock in a report on Thursday, October 21st. KeyCorp reduced their target price on Brinker International from $63.00 to $58.00 and set an overweight rating on the stock in a report on Monday, October 18th. They noted that the move was a valuation call. BMO Capital Markets reduced their target price on Brinker International from $83.00 to $65.00 and set an outperform rating on the stock in a report on Thursday, October 21st. Finally, Wells Fargo & Company reduced their target price on Brinker International from $65.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday, October 21st. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Brinker International presently has a consensus rating of Buy and an average price target of $57.71.

NYSE EAT opened at $36.43 on Friday. The company has a market capitalization of $1.65 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.05 and a beta of 2.64. The business’s fifty day moving average is $37.78 and its 200 day moving average is $47.30. Brinker International has a fifty-two week low of $33.52 and a fifty-two week high of $78.33.

Brinker International (NYSE:EAT) last released its earnings results on Wednesday, November 3rd. The restaurant operator reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $859.60 million for the quarter, compared to the consensus estimate of $925.88 million. Brinker International had a negative return on equity of 40.62% and a net margin of 3.86%. Brinker International’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Sell-side analysts anticipate that Brinker International will post 3.62 earnings per share for the current fiscal year.

In related news, COO Douglas N. Comings sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $43.06, for a total value of $86,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel S. Fuller acquired 1,275 shares of Brinker International stock in a transaction that occurred on Monday, November 29th. The stock was acquired at an average cost of $35.42 per share, with a total value of $45,160.50. The disclosure for this purchase can be found here. 4.21% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Brinker International by 2.9% during the second quarter. Vanguard Group Inc. now owns 5,153,319 shares of the restaurant operator’s stock worth $318,732,000 after purchasing an additional 144,310 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Brinker International by 461.0% during the third quarter. Nordea Investment Management AB now owns 2,347,280 shares of the restaurant operator’s stock worth $117,951,000 after purchasing an additional 1,928,850 shares in the last quarter. FMR LLC increased its position in shares of Brinker International by 84.8% during the second quarter. FMR LLC now owns 2,197,763 shares of the restaurant operator’s stock worth $135,932,000 after purchasing an additional 1,008,644 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Brinker International by 109.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,748,552 shares of the restaurant operator’s stock valued at $108,148,000 after acquiring an additional 914,746 shares during the period. Finally, State Street Corp increased its position in shares of Brinker International by 2.8% in the 2nd quarter. State Street Corp now owns 1,508,243 shares of the restaurant operator’s stock valued at $93,285,000 after acquiring an additional 40,895 shares during the period. 94.07% of the stock is currently owned by institutional investors and hedge funds.

About Brinker International

Brinker International, Inc engages in owning, developing, and franchising Chili’s Grill and Bar and Maggiano’s Little Italy restaurant brands. It operates through the following segments: Chili’s, and Maggiano’s. The Chili’s segment includes the results of company-owned Chili’s restaurants in the U.S.

Further Reading: Golden Cross

Analyst Recommendations for Brinker International (NYSE:EAT)

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