Brinker International (NYSE:EAT) Upgraded to Buy by Loop Capital

Brinker International (NYSE:EAT) was upgraded by equities research analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a $54.00 price objective on the restaurant operator’s stock, up from their prior price objective of $49.00. Loop Capital’s price objective would indicate a potential upside of 23.54% from the company’s current price.

Other equities research analysts also recently issued reports about the company. OTR Global upgraded Brinker International from a “mixed” rating to a “positive” rating in a report on Thursday, January 16th. Stephens increased their price target on Brinker International from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada started coverage on Brinker International in a report on Monday, December 9th. They issued a “sector perform” rating and a $45.00 price target for the company. Telsey Advisory Group increased their price target on Brinker International from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Barclays decreased their price objective on Brinker International from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.95.

Shares of Brinker International stock opened at $43.71 on Friday. Brinker International has a 1 year low of $36.44 and a 1 year high of $47.57. The business has a 50-day moving average of $42.84 and a two-hundred day moving average of $41.98. The company has a market capitalization of $1.67 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Wednesday, January 29th. The restaurant operator reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. Brinker International had a negative return on equity of 22.42% and a net margin of 4.21%. The company had revenue of $869.30 million during the quarter, compared to the consensus estimate of $876.95 million. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Brinker International will post 4.3 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its position in Brinker International by 3.1% during the third quarter. Voya Investment Management LLC now owns 212,447 shares of the restaurant operator’s stock valued at $9,065,000 after purchasing an additional 6,398 shares during the last quarter. Tygh Capital Management Inc. acquired a new position in Brinker International during the third quarter valued at approximately $9,888,000. Man Group plc boosted its position in Brinker International by 313.6% during the third quarter. Man Group plc now owns 706,605 shares of the restaurant operator’s stock valued at $30,152,000 after purchasing an additional 535,748 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Brinker International by 71.9% during the third quarter. Convergence Investment Partners LLC now owns 38,460 shares of the restaurant operator’s stock valued at $1,641,000 after purchasing an additional 16,092 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Brinker International during the third quarter valued at approximately $9,421,000.

About Brinker International

Brinker International, Inc, together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 27, 2018, it owned, operated, or franchised 1,686 restaurants comprising 997 company-owned restaurants and 689 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names.

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