Brinker International (EAT) is Downgraded by Barclays to Equal Weight, Lowers Price Target to $ 47

Brinker International (EAT) was Downgraded by Barclays to ” Equal Weight” while Lowering the Price Target of the company shares to $ 47 from a previous price target of $59 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Apr 20, 2016.

Many Wall Street Analysts have commented on Brinker International. Shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform” and Lowered the Price Target to $ 49 from a previous price target of $52 .Shares were Reiterated by Maxim Group on Apr 19, 2016 to “Buy” and Lowered the Price Target to $ 58 from a previous price target of $60 .Company shares were Reiterated by Maxim Group on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $56 .

On the company’s financial health, Brinker International reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.99. The company had revenue of $824.60 million for the quarter, compared to analysts expectations of $842.92 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Brinker International opened for trading at $47.24 and hit $47.75 on the upside on Monday, eventually ending the session at $47.64, with a gain of 0.85% or 0.4 points. The heightened volatility saw the trading volume jump to 18,90,589 shares. Company has a market cap of $2,721 M.

In a different news, on Feb 10, 2016, George R Jr Mrkonic (director) sold 5,584 shares at $46.98 per share price. According to the SEC, on Feb 10, 2016, Roger F Thomson (EVP, Ch. Dev. Officer) sold 11,460 shares at $46.54 per share price. On Jan 27, 2016, Joseph G Taylor (VP, Corp. Affairs & Inv. Rel.) sold 1,000 shares at $50.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Brinker International Inc. (Brinker) owns develops operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands. At September 24 2014 the Company owned operated or franchised 1622 restaurants in the United States and 29 countries and two territories outside of the United States. Chili’s operates in the Bar and Grill category of casual dining. The Company has operations around the world with locations in 32 foreign countries and two United States territories. Maggiano’s is a full-service casual dining Italian restaurant brand. Its Maggiano’s restaurants feature individual and family-style menus and its restaurants also have banquet facilities designed to host party business or social events.

Brinker International

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