Brinker International (NYSE:EAT) Stock Rating Upgraded by JPMorgan Chase & Co.

Brinker International (NYSE:EAT) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, July 15th, MarketBeat reports. The firm currently has a $43.00 price objective on the restaurant operator’s stock, down from their previous price objective of $44.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.42% from the company’s previous close.

Several other analysts have also weighed in on the company. ValuEngine raised Westpac Banking from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 target price (down from $5.00) on shares of Chico’s FAS in a research report on Wednesday, June 12th. Zacks Investment Research downgraded Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Maxim Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of Brinker International in a report on Tuesday, April 30th. Finally, UBS Group cut their target price on shares of PVH from $159.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.47.

Brinker International stock traded up $1.02 during mid-day trading on Monday, hitting $39.66. 6,355 shares of the company were exchanged, compared to its average volume of 832,534. Brinker International has a 12-month low of $36.82 and a 12-month high of $53.61. The firm has a 50 day moving average price of $39.06. The firm has a market cap of $1.45 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.23 and a beta of 0.28.

Brinker International (NYSE:EAT) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. The firm had revenue of $839.30 million for the quarter, compared to analysts’ expectations of $831.16 million. Brinker International had a negative return on equity of 19.10% and a net margin of 4.75%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. On average, research analysts anticipate that Brinker International will post 3.91 earnings per share for the current fiscal year.

In related news, EVP Kelly C. Baltes bought 800 shares of Brinker International stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $42.05 per share, with a total value of $33,640.00. Following the acquisition, the executive vice president now owns 13,134 shares of the company’s stock, valued at approximately $552,284.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

Several large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new position in Brinker International during the 2nd quarter worth approximately $252,000. Arizona State Retirement System increased its stake in shares of Brinker International by 1.1% in the second quarter. Arizona State Retirement System now owns 27,217 shares of the restaurant operator’s stock worth $1,071,000 after buying an additional 290 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Brinker International by 2.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 504,946 shares of the restaurant operator’s stock valued at $22,409,000 after buying an additional 10,023 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Brinker International in the 1st quarter worth approximately $258,000. Finally, Teza Capital Management LLC bought a new position in shares of Brinker International during the 1st quarter valued at approximately $329,000.

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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Analyst Recommendations for Brinker International (NYSE:EAT)

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