Bloomin’ Brands (NASDAQ:BLMN) Price Target Cut to $9.00 by Analysts at JPMorgan Chase & Co.

Bloomin’ Brands (NASDAQ:BLMN) had its price target reduced by research analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.36% from the company’s current price.

Several other brokerages have also weighed in on BLMN. The Goldman Sachs Group dropped their price objective on shares of Bloomin’ Brands from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. StockNews.com upgraded shares of Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Barclays set a $11.00 target price on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Bank of America lowered shares of Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $18.00 to $13.00 in a report on Monday, January 27th. Finally, UBS Group dropped their price objective on shares of Bloomin’ Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Bloomin’ Brands Stock Up 2.7 %

Shares of BLMN stock traded up $0.22 during trading on Thursday, reaching $8.16. The company’s stock had a trading volume of 402,236 shares, compared to its average volume of 2,345,521. The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 4.46. The business has a fifty day moving average price of $10.93 and a 200-day moving average price of $13.40. Bloomin’ Brands has a one year low of $7.75 and a one year high of $29.10. The company has a market cap of $692.61 million, a price-to-earnings ratio of -74.13 and a beta of 2.04.

Insider Buying and Selling

In other news, EVP Patrick M. Hafner sold 9,555 shares of Bloomin’ Brands 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloomin’ Brands

Large investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Bloomin’ Brands by 34.8% in the 3rd quarter. FMR LLC now owns 1,381,150 shares of the restaurant operator’s stock worth $22,830,000 after purchasing an additional 356,456 shares during the last quarter. A&I Financial Services LLC bought a new stake in Bloomin’ Brands in the 4th quarter worth about $343,000. Barclays PLC increased its holdings in Bloomin’ Brands by 29.4% in the 3rd quarter. Barclays PLC now owns 219,080 shares of the restaurant operator’s stock worth $3,621,000 after buying an additional 49,723 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Bloomin’ Brands by 58.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 691,585 shares of the restaurant operator’s stock worth $11,432,000 after buying an additional 254,570 shares in the last quarter. Finally, Skylands Capital LLC bought a new stake in Bloomin’ Brands in the 4th quarter worth about $1,407,000.

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.