Bloomin’ Brands (NASDAQ:BLMN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The firm presently has a $35.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.38% from the company’s previous close.
According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “
Other analysts have also issued reports about the stock. Morgan Stanley boosted their target price on shares of Bloomin’ Brands from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday. BMO Capital Markets lifted their price objective on Bloomin’ Brands from $22.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 19th. Credit Suisse Group lifted their price objective on Bloomin’ Brands from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, February 25th. JPMorgan Chase & Co. lifted their price objective on Bloomin’ Brands from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Company lifted their price objective on Bloomin’ Brands from $26.00 to $33.00 in a report on Thursday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.16.
NASDAQ BLMN traded up $0.20 on Tuesday, hitting $30.87. 1,129,290 shares of the stock were exchanged, compared to its average volume of 2,091,624. The company has a debt-to-equity ratio of 88.59, a quick ratio of 0.29 and a current ratio of 0.36. The stock has a fifty day moving average price of $28.26 and a two-hundred day moving average price of $22.06. The firm has a market capitalization of $2.74 billion, a P/E ratio of -22.53 and a beta of 1.97. Bloomin’ Brands has a 52-week low of $8.36 and a 52-week high of $32.81.
Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Wednesday, April 28th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.40. Bloomin’ Brands had a negative net margin of 3.45% and a negative return on equity of 39.30%. Sell-side analysts expect that Bloomin’ Brands will post -0.72 earnings per share for the current fiscal year.
In other news, Director Elizabeth A. Smith sold 150,000 shares of the business’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $26.13, for a total transaction of $3,919,500.00. Following the sale, the director now owns 662,204 shares in the company, valued at $17,303,390.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.39% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank purchased a new stake in Bloomin’ Brands in the fourth quarter valued at approximately $27,000. Captrust Financial Advisors boosted its position in Bloomin’ Brands by 1,482.2% in the 4th quarter. Captrust Financial Advisors now owns 1,424 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 1,334 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Bloomin’ Brands in the 1st quarter worth approximately $53,000. Valeo Financial Advisors LLC boosted its position in Bloomin’ Brands by 400.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the restaurant operator’s stock worth $68,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Arlington Partners LLC purchased a new stake in Bloomin’ Brands in the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.
Bloomin’ Brands Company Profile
Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, a casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
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