Telsey Advisory Group Trims Brinker International, Inc. (EAT) Target Price to $40.00

Brinker International, Inc. (NYSE:EAT) had its price objective dropped by stock analysts at Telsey Advisory Group from $49.00 to $40.00 in a research report issued to clients and investors on Monday, July 17th, Marketbeat reports. The brokerage presently has a “market perform” rating on the restaurant operator’s stock. Telsey Advisory Group’s price target indicates a potential upside of 14.16% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Barclays PLC reissued an “equal weight” rating and issued a $47.00 target price on shares of Brinker International in a research report on Tuesday, July 4th. Zacks Investment Research cut shares of Brinker International from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BMO Capital Markets raised shares of Brinker International from an “underperform” rating to a “market perform” rating and set a $40.00 target price on the stock in a research report on Thursday, June 22nd. Maxim Group reissued a “buy” rating and issued a $54.00 target price on shares of Brinker International in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co cut shares of Brinker International from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $48.00 to $44.00 in a research report on Thursday, June 15th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Brinker International currently has an average rating of “Hold” and a consensus target price of $47.62.

Shares of Brinker International (NYSE:EAT) opened at 35.04 on Monday. Brinker International has a 1-year low of $34.92 and a 1-year high of $55.84. The stock has a 50 day moving average price of $37.56 and a 200 day moving average price of $41.87. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.44 and a beta of 0.27.

Brinker International (NYSE:EAT) last released its quarterly earnings results on Tuesday, April 25th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Brinker International had a net margin of 5.05% and a negative return on equity of 39.89%. The company had revenue of $810.60 million for the quarter, compared to analysts’ expectations of $817.50 million. During the same period last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Brinker International will post $3.14 EPS for the current year.

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In other Brinker International news, SVP David Roy Doyle sold 7,182 shares of Brinker International stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $44.41, for a total value of $318,952.62. Following the completion of the transaction, the senior vice president now owns 54,074 shares of the company’s stock, valued at $2,401,426.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steve Provost sold 2,750 shares of Brinker International stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $44.06, for a total transaction of $121,165.00. Following the completion of the transaction, the executive vice president now directly owns 29,780 shares of the company’s stock, valued at approximately $1,312,106.80. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Brinker International by 10,393.8% in the first quarter. BlackRock Inc. now owns 3,975,272 shares of the restaurant operator’s stock valued at $174,753,000 after buying an additional 3,937,390 shares during the period. Norges Bank purchased a new position in shares of Brinker International during the fourth quarter valued at about $40,083,000. Vanguard Group Inc. increased its position in shares of Brinker International by 15.4% in the first quarter. Vanguard Group Inc. now owns 5,544,617 shares of the restaurant operator’s stock valued at $243,741,000 after buying an additional 738,302 shares during the period. Alliancebernstein L.P. increased its position in shares of Brinker International by 33.8% in the first quarter. Alliancebernstein L.P. now owns 2,236,357 shares of the restaurant operator’s stock valued at $98,310,000 after buying an additional 565,294 shares during the period. Finally, FMR LLC increased its position in shares of Brinker International by 114.0% in the first quarter. FMR LLC now owns 495,250 shares of the restaurant operator’s stock valued at $21,771,000 after buying an additional 263,790 shares during the period.

About Brinker International

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.