JPMorgan Chase & Co. Cuts Bloomin’ Brands (NASDAQ:BLMN) Price Target to $9.00

Bloomin’ Brands (NASDAQ:BLMN) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.36% from the stock’s previous close.

BLMN has been the topic of several other research reports. UBS Group dropped their price objective on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. BMO Capital Markets decreased their target price on shares of Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group decreased their target price on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $18.00 to $13.00 in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.50.

Bloomin’ Brands Stock Up 2.7 %

NASDAQ:BLMN traded up $0.22 during trading hours on Thursday, hitting $8.16. The company’s stock had a trading volume of 402,236 shares, compared to its average volume of 2,345,521. The stock has a fifty day moving average of $10.93 and a 200-day moving average of $13.40. The stock has a market capitalization of $692.61 million, a P/E ratio of -74.13 and a beta of 2.04. Bloomin’ Brands has a 52-week low of $7.75 and a 52-week high of $29.10. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46.

Insider Activity

In related news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after purchasing an additional 356,456 shares during the last quarter. A&I Financial Services LLC bought a new position in shares of Bloomin’ Brands in the fourth quarter worth about $343,000. Barclays PLC grew its position in shares of Bloomin’ Brands by 29.4% during the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock worth $3,621,000 after buying an additional 49,723 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Bloomin’ Brands by 58.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after buying an additional 254,570 shares during the period. Finally, Skylands Capital LLC acquired a new stake in shares of Bloomin’ Brands during the 4th quarter worth approximately $1,407,000.

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.