JPMorgan Chase & Co. Lowers Bloomin’ Brands (NASDAQ:BLMN) Price Target to $22.00

Bloomin’ Brands (NASDAQ:BLMN) had its price objective lowered by JPMorgan Chase & Co. from $23.00 to $22.00 in a report published on Friday, June 28th, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. BMO Capital Markets reaffirmed a hold rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Tigress Financial reiterated a buy rating on shares of Bloomin’ Brands in a research note on Thursday, April 18th. Finally, BidaskClub upgraded Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Bloomin’ Brands presently has a consensus rating of Hold and an average price target of $21.40.

NASDAQ:BLMN traded down $0.05 during trading hours on Friday, reaching $17.84. 756,810 shares of the company were exchanged, compared to its average volume of 1,384,387. The firm has a 50 day moving average of $18.61. The firm has a market capitalization of $1.64 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.13 and a beta of 0.27. Bloomin’ Brands has a 1-year low of $17.00 and a 1-year high of $22.22. The company has a debt-to-equity ratio of 9.20, a current ratio of 0.30 and a quick ratio of 0.21.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Bloomin’ Brands had a return on equity of 124.00% and a net margin of 2.56%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, equities research analysts forecast that Bloomin’ Brands will post 1.59 EPS for the current year.

In related news, Chairman Elizabeth A. Smith sold 65,486 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $20.00, for a total transaction of $1,309,720.00. Following the completion of the transaction, the chairman now directly owns 411,733 shares of the company’s stock, valued at approximately $8,234,660. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth A. Smith sold 116,318 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $19.99, for a total value of $2,325,196.82. Following the transaction, the insider now directly owns 411,733 shares of the company’s stock, valued at $8,230,542.67. The disclosure for this sale can be found here. 4.39% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of BLMN. Rhumbline Advisers raised its position in shares of Bloomin’ Brands by 43.3% in the 4th quarter. Rhumbline Advisers now owns 113,507 shares of the restaurant operator’s stock worth $2,031,000 after acquiring an additional 34,322 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Bloomin’ Brands by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 63,515 shares of the restaurant operator’s stock valued at $1,136,000 after purchasing an additional 5,303 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Bloomin’ Brands by 1,488.8% during the 4th quarter. Acadian Asset Management LLC now owns 115,123 shares of the restaurant operator’s stock valued at $2,059,000 after purchasing an additional 107,877 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Bloomin’ Brands during the 4th quarter valued at about $60,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Bloomin’ Brands by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 82,406 shares of the restaurant operator’s stock valued at $1,474,000 after purchasing an additional 6,414 shares during the last quarter. 94.16% of the stock is owned by hedge funds and other institutional investors.

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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