JPMorgan Chase & Co. Issues Pessimistic Forecast for Bloomin’ Brands (NASDAQ:BLMN) Stock Price

Bloomin’ Brands (NASDAQ:BLMN) had its price target lowered by research analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 15.68% from the stock’s current price.

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

Bloomin’ Brands Price Performance

Shares of BLMN stock opened at $7.78 on Thursday. The stock’s fifty day simple moving average is $10.79 and its 200 day simple moving average is $13.29. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22. The firm has a market cap of $660.76 million, a price-to-earnings ratio of -70.72 and a beta of 2.04. Bloomin’ Brands has a one year low of $7.72 and a one year high of $29.10.

Insider Buying and Selling at Bloomin’ Brands

In other Bloomin’ Brands news, EVP Patrick M. Hafner sold 9,555 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth about $32,000. Meeder Asset Management Inc. acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth about $41,000. New Age Alpha Advisors LLC acquired a new position in shares of Bloomin’ Brands during the fourth quarter worth about $45,000. Finally, KBC Group NV boosted its position in shares of Bloomin’ Brands by 79.1% during the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after buying an additional 1,489 shares during the period.

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.