Bank of America Downgrades Bloomin’ Brands (BLMN) to Underperform

Bloomin’ Brands (NASDAQ:BLMN) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Friday, The Fly reports.

A number of other research firms also recently weighed in on BLMN. BidaskClub raised Bloomin’ Brands from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Barclays reduced their price target on Bloomin’ Brands from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, November 29th. TheStreet downgraded Bloomin’ Brands from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Gordon Haskett began coverage on Bloomin’ Brands in a research report on Thursday, October 18th. They set a “buy” rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. raised Bloomin’ Brands from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Bloomin’ Brands presently has an average rating of “Hold” and a consensus target price of $22.22.

Shares of BLMN opened at $19.17 on Friday. The company has a debt-to-equity ratio of 18.69, a current ratio of 0.37 and a quick ratio of 0.29. Bloomin’ Brands has a 52-week low of $17.08 and a 52-week high of $25.00. The company has a market capitalization of $1.77 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.33.

A number of institutional investors and hedge funds have recently bought and sold shares of BLMN. Meeder Asset Management Inc. raised its stake in Bloomin’ Brands by 211.1% in the 4th quarter. Meeder Asset Management Inc. now owns 8,677 shares of the restaurant operator’s stock valued at $156,000 after acquiring an additional 5,888 shares during the period. Jefferies Group LLC bought a new stake in Bloomin’ Brands in the 3rd quarter valued at $199,000. Cerebellum GP LLC raised its stake in Bloomin’ Brands by 49.7% in the 4th quarter. Cerebellum GP LLC now owns 14,376 shares of the restaurant operator’s stock valued at $257,000 after acquiring an additional 4,771 shares during the period. Commonwealth Bank of Australia bought a new stake in Bloomin’ Brands in the 3rd quarter valued at $298,000. Finally, Raymond James & Associates raised its stake in Bloomin’ Brands by 45.3% in the 2nd quarter. Raymond James & Associates now owns 24,767 shares of the restaurant operator’s stock valued at $498,000 after acquiring an additional 7,721 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.

Bloomin’ Brands Company Profile

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, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.

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The Fly

Analyst Recommendations for Bloomin` Brands (NASDAQ:BLMN)

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