Bloomin’ Brands (NASDAQ:BLMN) Upgraded at StockNews.com

StockNews.com upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a research report released on Saturday morning.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. UBS Group reduced their price target on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group started coverage on shares of Bloomin’ Brands in a research report on Thursday, December 5th. They issued a “sell” rating and a $13.00 price objective for the company. Finally, Piper Sandler decreased their price target on shares of Bloomin’ Brands from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.30.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $12.56 on Friday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -114.17 and a beta of 1.97. Bloomin’ Brands has a one year low of $11.03 and a one year high of $30.13. 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 stock has a 50-day moving average of $12.41 and a 200 day moving average of $15.17.

Bloomin’ Brands (NASDAQ:BLMN) last issued its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. Bloomin’ Brands’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, sell-side analysts forecast that Bloomin’ Brands will post 1.8 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in Bloomin’ Brands by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 92,733 shares of the restaurant operator’s stock worth $1,783,000 after buying an additional 5,752 shares during the period. Hsbc Holdings PLC boosted its position in Bloomin’ Brands by 8.7% in the second quarter. Hsbc Holdings PLC now owns 13,567 shares of the restaurant operator’s stock valued at $258,000 after buying an additional 1,083 shares during the last quarter. AQR Capital Management LLC increased its holdings in Bloomin’ Brands by 24.2% in the second quarter. AQR Capital Management LLC now owns 304,872 shares of the restaurant operator’s stock valued at $5,863,000 after buying an additional 59,353 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Bloomin’ Brands by 2,520.7% during the second quarter. Millennium Management LLC now owns 468,507 shares of the restaurant operator’s stock worth $9,009,000 after buying an additional 450,630 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Bloomin’ Brands during the 2nd quarter valued at approximately $351,000.

About Bloomin’ Brands

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.