JPMorgan Chase & Co. Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $10.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target dropped by research analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.06% from the company’s current price.

A number of other research firms have also weighed in on BLMN. UBS Group dropped their target price on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Raymond James cut Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group dropped their price target on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Finally, BMO Capital Markets decreased their price objective on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, Bloomin’ Brands currently has a consensus rating of “Hold” and an average price target of $14.60.

Bloomin’ Brands Trading Up 7.3 %

Shares of NASDAQ BLMN traded up $0.64 during mid-day trading on Monday, hitting $9.43. The stock had a trading volume of 800,106 shares, compared to its average volume of 1,688,185. The business has a 50 day moving average price of $11.51 and a two-hundred day moving average price of $13.88. Bloomin’ Brands has a 1 year low of $8.00 and a 1 year high of $29.59. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a market cap of $800.81 million, a P/E ratio of -85.71 and a beta of 2.04.

Insider Activity

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total value of $79,497.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Erste Asset Management GmbH bought a new stake in shares of Bloomin’ Brands during the third quarter valued at approximately $41,325,000. Schonfeld Strategic Advisors LLC boosted its stake in Bloomin’ Brands by 8,666.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,568,253 shares of the restaurant operator’s stock valued at $19,148,000 after purchasing an additional 1,550,364 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Bloomin’ Brands by 565.9% in the 4th quarter. American Century Companies Inc. now owns 1,791,366 shares of the restaurant operator’s stock worth $21,873,000 after purchasing an additional 1,522,370 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Bloomin’ Brands by 385.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,817,145 shares of the restaurant operator’s stock worth $22,187,000 after purchasing an additional 1,442,964 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Bloomin’ Brands by 483.0% during the fourth quarter. Marshall Wace LLP now owns 1,225,608 shares of the restaurant operator’s stock valued at $14,965,000 after purchasing an additional 1,015,372 shares in the last quarter.

Bloomin’ Brands Company Profile

Bloomin’ Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.