The stock of Brinker International, Inc. (NYSE:EAT) is now priced at $39.25 and the shares are 0.76 points up or 1.97% higher compared to its previous closing price of $38.49. The stock had 1.493 million contracts set over the past session. EAT shares’ daily volume is compared to its average trading volume at 3.062 million shares. However, it has a float of 37.65 million and although its performance was 5.57% over the week, it’s one to watch. Analysts have given the EAT stock a yearly average price target of $38.62 per share. It means the stock’s downside potential is -1.61% with the EAT share price recently placing at $37.895 to $39.5. However, some brokerage firms have priced the stock below the average, including one that has called $23.
The shorts are running away from the Brinker International, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EAT shares have declined. Short interest in the stock represents just 17.28% of its float, but the volume has dropped by 0.
In the last trading session, Brinker International, Inc. (NYSE:EAT) raised by $2.07 over the week and gained $12.78 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $47.57. The stock recorded its established 52-week high on 11/05/19.
Since 03/18/20, the stock has traded to a low of $7 at 460.71%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.35. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Brinker International, Inc.’s two-week RSI is 83.49. This suggests that the stock is oversold at the moment and that EAT shares’ price movement remains not stable. The stochastic readings are equally revealing at 94.78% meaning the EAT share price is currently in oversold territory.
The technical chart shows that the EAT stock will likely settle at between $39.87 and $40.49 per share. However, if the stock dips below $38.26, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $37.28.
Currently, the stock is trading in the green of MACD, with a reading of 1.25. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Telsey Advisory Group though raised target price of EAT stock from $36 to $42 but maintained Outperform recommendation in their August 18 review. Deutsche Bank analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $46 in a flash note released to investors on August 17. BofA Securities seeing the improvements upgraded the stock from Underperform to Neutral on August 17, placing it at $40.
The average rating for the EAT equity is 2.65 and is currently gathering a bullish momentum. Of 24 analysts tracking Brinker International, Inc. polled by Reuters, 11 rated EAT as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (12) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the EAT stock price is 11.86X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 62.3 above the group’s average of 46.4.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Brinker International, Inc. (NYSE:EAT) will decrease by about -99.87%, which will see them reach $727 million. The company’s full-year revenues are, however, expected to increase by about 8.12%, up from $3080 million to $3330 million. EAT’s expected adjusted earnings should drop almost -156.1% to end up at -$0.23 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 21.05% to record $2.07/share.