JPMorgan Chase & Co. Downgrades Brinker International (NYSE:EAT) to Neutral

Brinker International (NYSE:EAT) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat.com reports. They currently have a $100.00 target price on the restaurant operator’s stock, up from their previous target price of $67.00. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 4.71% from the company’s current price.

Other analysts also recently issued reports about the stock. Bank of America boosted their price target on shares of Brinker International from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Brinker International in a research report on Thursday, August 15th. Citigroup lifted their price objective on shares of Brinker International from $69.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Barclays raised their target price on shares of Brinker International from $66.00 to $76.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets cut Brinker International from an “outperform” rating to a “market perform” rating and upped their price target for the company from $80.00 to $105.00 in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Brinker International has an average rating of “Hold” and an average target price of $84.19.

Brinker International Price Performance

Shares of NYSE:EAT opened at $104.94 on Thursday. The firm’s 50 day moving average is $81.21 and its two-hundred day moving average is $69.98. The firm has a market capitalization of $4.70 billion, a P/E ratio of 25.60, a PEG ratio of 1.71 and a beta of 2.51. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 63.54. Brinker International has a 52 week low of $33.03 and a 52 week high of $107.15.

Brinker International (NYSE:EAT) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26. Brinker International had a negative return on equity of 839.19% and a net margin of 4.11%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Analysts anticipate that Brinker International will post 4.78 earnings per share for the current year.

Insider Transactions at Brinker International

In related news, CFO Michaela M. Ware sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $103.02, for a total value of $386,634.06. Following the completion of the sale, the chief financial officer now owns 23,071 shares of the company’s stock, valued at approximately $2,376,774.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Brinker International

A number of large investors have recently bought and sold shares of the business. NorthCrest Asset Manangement LLC raised its position in shares of Brinker International by 1.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 12,015 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 135 shares during the period. Nisa Investment Advisors LLC lifted its position in Brinker International by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,357 shares of the restaurant operator’s stock worth $967,000 after acquiring an additional 169 shares during the last quarter. CWM LLC boosted its holdings in Brinker International by 96.2% during the second quarter. CWM LLC now owns 416 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 204 shares during the period. Arizona State Retirement System grew its position in shares of Brinker International by 1.9% in the second quarter. Arizona State Retirement System now owns 12,382 shares of the restaurant operator’s stock valued at $896,000 after purchasing an additional 234 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Brinker International by 33.2% during the second quarter. Signaturefd LLC now owns 986 shares of the restaurant operator’s stock valued at $71,000 after purchasing an additional 246 shares during the period.

About Brinker International

Brinker International, Inc, together with its subsidiaries, engages in the ownership, development, operation, and franchising of casual dining restaurants in the United States and internationally. It operates and franchises Chili's Grill & Bar and Maggiano's Little Italy restaurant brands.