JPMorgan Chase & Co. Lowers Brinker International (NYSE:EAT) Price Target to $44.00

Brinker International (NYSE:EAT) had its price target cut by equities researchers at JPMorgan Chase & Co. from $48.00 to $44.00 in a research note issued on Friday, June 28th, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.06% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Maxim Group reaffirmed a “buy” rating and issued a $58.00 target price on shares of Brinker International in a research report on Tuesday, April 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Chico’s FAS in a research report on Wednesday, June 12th. ValuEngine raised Westpac Banking from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, UBS Group reduced their price target on PVH from $159.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Brinker International presently has a consensus rating of “Hold” and a consensus target price of $44.44.

NYSE EAT traded up $0.05 during trading on Friday, reaching $39.62. 492,913 shares of the company’s stock were exchanged, compared to its average volume of 849,707. The firm’s 50 day simple moving average is $38.87. The firm has a market capitalization of $1.49 billion, a PE ratio of 11.32, a P/E/G ratio of 1.20 and a beta of 0.28. Brinker International has a fifty-two week low of $36.82 and a fifty-two week high of $53.61.

Brinker International (NYSE:EAT) last announced its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. The firm had revenue of $839.30 million for the quarter, compared to the consensus estimate of $831.16 million. Brinker International had a negative return on equity of 19.10% and a net margin of 4.75%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. As a group, analysts forecast that Brinker International will post 3.92 earnings per share for the current year.

In other news, EVP Kelly C. Baltes purchased 800 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $42.05 per share, for a total transaction of $33,640.00. Following the purchase, the executive vice president now owns 13,134 shares of the company’s stock, valued at $552,284.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC bought a new position in Brinker International during the 1st quarter worth $79,000. Nordea Investment Management AB bought a new position in Brinker International during the 4th quarter worth $147,000. One Wealth Advisors LLC bought a new position in Brinker International during the 4th quarter worth $248,000. Lido Advisors LLC bought a new position in Brinker International during the 1st quarter worth $253,000. Finally, Weiss Asset Management LP bought a new position in Brinker International during the 1st quarter worth $258,000.

Brinker International Company Profile

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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