Bloomin’ Brands Inc. (BLMN) Upgraded by Zacks Investment Research to Hold
Bloomin’ Brands Inc. (NASDAQ:BLMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Bloomin’ Brands, Inc. is a casual dining restaurant company with a portfolio of differentiated restaurant concepts. It has five concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally. Bloomin’ Brands, Inc. is based in Tampa, Florida. “
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Bloomin’ Brands in a research report on Tuesday, August 2nd. Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Bloomin’ Brands in a research report on Friday, July 15th. Finally, TheStreet downgraded shares of Bloomin’ Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.92.
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Shares of Bloomin’ Brands (NASDAQ:BLMN) traded down 1.10% on Tuesday, hitting $17.03. 1,009,908 shares of the stock traded hands. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 35.19 and a beta of 0.84. The stock has a 50 day moving average price of $18.37 and a 200-day moving average price of $18.40. Bloomin’ Brands has a 52 week low of $14.91 and a 52 week high of $19.89.
Bloomin’ Brands (NASDAQ:BLMN) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. Bloomin’ Brands had a net margin of 1.38% and a return on equity of 38.79%. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Bloomin’ Brands will post $1.34 EPS for the current year.
In other Bloomin’ Brands news, EVP Michael Kappitt sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $19.50, for a total value of $195,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Chris Thomas Sullivan sold 79,150 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $19.05, for a total transaction of $1,507,807.50. The disclosure for this sale can be found here. 6.68% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Bloomin’ Brands by 28.1% in the first quarter. Wellington Management Group LLP now owns 6,440,548 shares of the company’s stock valued at $108,652,000 after buying an additional 1,411,587 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in Bloomin’ Brands by 134.5% in the second quarter. Moody Aldrich Partners LLC now owns 58,660 shares of the company’s stock valued at $1,048,000 after buying an additional 33,645 shares in the last quarter. BlackRock Inc. boosted its stake in Bloomin’ Brands by 52.1% in the first quarter. BlackRock Inc. now owns 16,180 shares of the company’s stock valued at $273,000 after buying an additional 5,543 shares in the last quarter. Peconic Partners LLC purchased a new stake in Bloomin’ Brands during the first quarter valued at about $1,685,000. Finally, Teachers Advisors Inc. boosted its stake in Bloomin’ Brands by 1.5% in the first quarter. Teachers Advisors Inc. now owns 649,833 shares of the company’s stock valued at $10,963,000 after buying an additional 9,400 shares in the last quarter. Institutional investors and hedge funds own 93.55% of the company’s stock.
About Bloomin’ Brands
Bloomin’ Brands, Inc (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates approximately 1,340 restaurants and franchises over 170 restaurants across approximately 50 states, Puerto Rico, Guam and approximately 20 countries.
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