Bloomin’ Brands (NASDAQ:BLMN) Given New $10.00 Price Target at JPMorgan Chase & Co.

Bloomin’ Brands (NASDAQ:BLMN) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.94% from the stock’s previous close.

Several other research firms have also commented on BLMN. BMO Capital Markets reduced their price target on Bloomin’ Brands from $16.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Barclays set a $11.00 target price on Bloomin’ Brands and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $18.00 to $13.00 in a research report on Monday, January 27th. The Goldman Sachs Group reduced their target price on Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Finally, Raymond James lowered Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $14.60.

Bloomin’ Brands Trading Down 7.0 %

BLMN opened at $8.70 on Monday. The firm has a market cap of $738.90 million, a price-to-earnings ratio of -79.08 and a beta of 2.04. The company has a current ratio of 0.31, a quick ratio of 0.22 and a debt-to-equity ratio of 4.46. Bloomin’ Brands has a 12 month low of $8.00 and a 12 month high of $29.31. The stock has a fifty day moving average price of $11.39 and a 200-day moving average price of $13.76.

Insider Buying and Selling at Bloomin’ Brands

In other news, EVP Patrick M. Hafner sold 9,555 shares of the company’s stock in a transaction dated 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 hyperlink. Company insiders own 3.14% of the company’s stock.

Institutional Trading of Bloomin’ Brands

A number of hedge funds have recently modified their holdings of BLMN. Gladius Capital Management LP purchased a new stake in shares of Bloomin’ Brands in the third quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth about $32,000. Meeder Asset Management Inc. purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth about $41,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Bloomin’ Brands in the fourth quarter worth about $45,000.

About Bloomin’ Brands

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.