Jim Cramer on Brinker: “We’re Going to Pass on That One Right Now as Much as I Like It”

Brinker International, Inc. (NYSE:EAT) is one of the stocks Jim Cramer recently talked about. A caller inquired whether they should buy more, hold, or sell the stock, and Cramer replied:

“Oh, you know what? I mentioned Brinker just this very morning when I was on Squawk on the Street, and now the stock is up nine. It’s been up so many points in the last few days that I will tell you… it’s too risky, and I think… the world of it. But I’m not going to have you come in here and then say, Jim, why didn’t you tell me the stock was straight up? So we’re going to pass on that one right now as much as I like it.”

Photo by Adam Nowakowski on Unsplash

Brinker International, Inc. (NYSE:EAT) owns, operates, and franchises casual dining restaurants under the Chili’s Grill & Bar and Maggiano’s Little Italy brands. During the November 10 episode, a caller expressed their intention to invest in the stock, and Cramer replied:

“I think it’s the right level to buy Brinker, but you have to understand, 10 times earnings does matter. But the restaurant group is radically out of fashion. So if you’re going to buy some, let’s say, you want to buy 100 shares? You buy 25 here, and then you have to wait. I will not sanction buying more at this level.”

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Disclosure: None. This article is originally published at Insider Monkey.