Brinker International, Inc. (EAT) Stock Rating Reaffirmed by Maxim Group

Maxim Group reiterated their buy rating on shares of Brinker International, Inc. (NYSE:EAT) in a research note published on Thursday morning. Maxim Group currently has a $49.00 price objective on the restaurant operator’s stock.

EAT has been the topic of several other reports. ValuEngine upgraded Brinker International from a hold rating to a buy rating in a research note on Thursday, July 27th. Telsey Advisory Group cut their price target on Brinker International from $49.00 to $40.00 and set a market perform rating on the stock in a research note on Monday, July 17th. Zacks Investment Research cut Brinker International from a buy rating to a hold rating in a research note on Wednesday, October 18th. Royal Bank Of Canada restated a sector perform rating and issued a $40.00 price target (down from $49.00) on shares of Brinker International in a research note on Wednesday, August 9th. Finally, Canaccord Genuity restated a hold rating and issued a $40.00 price target on shares of Brinker International in a research note on Sunday, October 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $40.50.

Shares of Brinker International (NYSE:EAT) traded up $0.60 during midday trading on Thursday, hitting $33.40. The stock had a trading volume of 1,656,004 shares, compared to its average volume of 1,910,000. The firm has a market capitalization of $1,630.00, a PE ratio of 10.38, a P/E/G ratio of 1.03 and a beta of 0.17. The company has a debt-to-equity ratio of -2.51, a quick ratio of 0.29 and a current ratio of 0.34. Brinker International has a twelve month low of $29.50 and a twelve month high of $55.84.

Brinker International (NYSE:EAT) last announced its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $739.40 million during the quarter, compared to analyst estimates of $749.05 million. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. sell-side analysts expect that Brinker International will post 3.22 earnings per share for the current fiscal year.

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Brinker International declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 10th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 14.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, Director Michael A. George acquired 16,450 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $30.31 per share, with a total value of $498,599.50. Following the completion of the acquisition, the director now owns 49,952 shares in the company, valued at approximately $1,514,045.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Brinker International by 5.9% during the second quarter. Vanguard Group Inc. now owns 5,874,194 shares of the restaurant operator’s stock worth $223,806,000 after purchasing an additional 329,577 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Brinker International by 27.8% during the second quarter. BlackRock Inc. now owns 5,080,271 shares of the restaurant operator’s stock worth $193,557,000 after buying an additional 1,104,999 shares during the last quarter. State Street Corp grew its holdings in shares of Brinker International by 18.4% during the second quarter. State Street Corp now owns 1,710,040 shares of the restaurant operator’s stock worth $65,148,000 after buying an additional 265,437 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Brinker International by 4.4% during the second quarter. Cooke & Bieler LP now owns 1,522,933 shares of the restaurant operator’s stock worth $58,024,000 after buying an additional 64,780 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Brinker International by 97.9% during the third quarter. Bessemer Group Inc. now owns 1,303,134 shares of the restaurant operator’s stock worth $41,518,000 after buying an additional 644,700 shares during the last quarter.

Brinker International Company Profile

Brinker International, Inc is engaged in the ownership, operation, development, and franchising of the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. The Company’s Chili’s operates Bar & Grill category of casual dining. Chili’s menu features authentic Fresh Mex and Fresh Tex cuisine, including signature items, such as Baby Back Ribs smoked in-house, Hand-Crafted Burgers served with house-made garlic dill pickles, Mix and Match Fajitas, Tableside Guacamole and house-made Chips and Salsa.

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