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

Bloomin’ Brands (NASDAQ:BLMN) had its target price cut by stock analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.68% from the stock’s previous close.

Several other analysts have also issued reports on BLMN. UBS Group dropped their target price on Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group dropped their price objective on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Barclays set a $11.00 price objective on Bloomin’ Brands and gave the company an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com upgraded Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, BMO Capital Markets dropped their price objective on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

Bloomin’ Brands Stock Performance

BLMN opened at $7.78 on Thursday. Bloomin’ Brands has a 52-week low of $7.72 and a 52-week high of $29.10. The firm has a market capitalization of $660.76 million, a PE ratio of -70.72 and a beta of 2.04. 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 business’s 50-day simple moving average is $10.79 and its 200 day simple moving average is $13.29.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was 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 SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Bloomin’ Brands

Several hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Bloomin’ Brands during the 4th quarter valued at $3,519,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bloomin’ Brands during the 4th quarter valued at $32,000. Two Sigma Advisers LP acquired a new stake in shares of Bloomin’ Brands during the 4th quarter valued at $1,552,000. Two Sigma Investments LP raised its position in Bloomin’ Brands by 160.9% during the 4th quarter. Two Sigma Investments LP now owns 401,697 shares of the restaurant operator’s stock worth $4,905,000 after purchasing an additional 247,702 shares during the last quarter. Finally, State of Wyoming raised its position in Bloomin’ Brands by 99.5% during the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 5,146 shares during 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.