Brinker International (EAT) Price Target Cut to $39.00

Brinker International (NYSE:EAT) had its price objective reduced by Bank of America from $41.00 to $39.00 in a research report sent to investors on Thursday, August 2nd. They currently have an underperform rating on the restaurant operator’s stock.

Other research analysts have also issued reports about the company. Barclays upped their target price on Brinker International from $46.00 to $50.00 and gave the company a $49.71 rating in a research report on Wednesday, July 18th. Zacks Investment Research lowered Brinker International from a buy rating to a hold rating in a research report on Monday, July 16th. Morgan Stanley upped their target price on Brinker International from $35.00 to $37.00 and gave the company an underweight rating in a research report on Monday, July 16th. Telsey Advisory Group boosted their price target on Brinker International from $49.00 to $52.00 and gave the company a market perform rating in a research note on Friday, June 15th. Finally, TheStreet upgraded Brinker International from a c rating to a b- rating in a research note on Wednesday, May 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $45.00.

Brinker International traded down $0.99, reaching $44.18, on Thursday, according to Marketbeat Ratings. 843,441 shares of the stock traded hands, compared to its average volume of 881,341. The firm has a market cap of $1.98 billion and a PE ratio of 13.81. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of -2.24. Brinker International has a 12 month low of $29.50 and a 12 month high of $54.14.

In related news, EVP Kelli Valade sold 4,224 shares of the company’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $49.59, for a total value of $209,468.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Roy Doyle sold 3,615 shares of the company’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $49.86, for a total value of $180,243.90. The disclosure for this sale can be found here. 1.91% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in EAT. Neuberger Berman Group LLC raised its stake in Brinker International by 15.9% in the first quarter. Neuberger Berman Group LLC now owns 9,077 shares of the restaurant operator’s stock valued at $328,000 after buying an additional 1,243 shares in the last quarter. D.A. Davidson & CO. raised its stake in Brinker International by 12.9% in the first quarter. D.A. Davidson & CO. now owns 11,759 shares of the restaurant operator’s stock valued at $424,000 after buying an additional 1,345 shares in the last quarter. Martingale Asset Management L P raised its stake in Brinker International by 1.0% in the second quarter. Martingale Asset Management L P now owns 156,960 shares of the restaurant operator’s stock valued at $7,472,000 after buying an additional 1,595 shares in the last quarter. Hancock Holding Co. raised its stake in Brinker International by 5.3% in the first quarter. Hancock Holding Co. now owns 37,002 shares of the restaurant operator’s stock valued at $1,336,000 after buying an additional 1,848 shares in the last quarter. Finally, Foster & Motley Inc. raised its stake in Brinker International by 11.9% in the second quarter. Foster & Motley Inc. now owns 20,873 shares of the restaurant operator’s stock valued at $994,000 after buying an additional 2,217 shares in the last quarter.

Brinker International Company Profile

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants worldwide. As of June 28, 2017, it owned, operated, or franchised 1,674 restaurants comprising 1,622 restaurants under the Chili's Grill & Bar brand name; and 52 restaurants under the Maggiano's Little Italy brand name.

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Analyst Recommendations for Brinker International (NYSE:EAT)

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