Barclays Forecasts Strong Price Appreciation for Bloomin’ Brands (NASDAQ:BLMN) Stock

Bloomin’ Brands (NASDAQ:BLMN) had its target price lifted by Barclays from $8.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price target would indicate a potential downside of 4.15% from the company’s previous close.

Several other research firms have also recently commented on BLMN. Morgan Stanley set a $10.00 target price on shares of Bloomin’ Brands and gave the stock an “equal weight” rating in a research report on Monday, July 14th. UBS Group decreased their price objective on shares of Bloomin’ Brands from $13.00 to $8.50 and set a “neutral” rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bloomin’ Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, Bloomin’ Brands currently has an average rating of “Hold” and an average price target of $12.75.

Bloomin’ Brands Price Performance

NASDAQ BLMN opened at $9.39 on Thursday. Bloomin’ Brands has a 52 week low of $6.09 and a 52 week high of $21.45. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 2.38. The stock has a market cap of $797.49 million, a price-to-earnings ratio of -312.90 and a beta of 1.32. The company has a 50-day moving average price of $8.75 and a two-hundred day moving average price of $9.35.

Bloomin’ Brands (NASDAQ:BLMN) last posted its earnings results on Wednesday, May 7th. The restaurant operator reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Bloomin’ Brands had a negative net margin of 0.05% and a positive return on equity of 55.08%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Bloomin’ Brands’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts forecast that Bloomin’ Brands will post 1.8 EPS for the current year.

Institutional Trading of Bloomin’ Brands

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its holdings in Bloomin’ Brands by 32.9% during the second quarter. Public Employees Retirement System of Ohio now owns 4,704 shares of the restaurant operator’s stock worth $41,000 after buying an additional 1,164 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Bloomin’ Brands by 28.9% during the first quarter. GAMMA Investing LLC now owns 6,304 shares of the restaurant operator’s stock worth $45,000 after buying an additional 1,414 shares in the last quarter. Headlands Technologies LLC bought a new stake in Bloomin’ Brands during the fourth quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Bloomin’ Brands by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,395 shares of the restaurant operator’s stock worth $333,000 after buying an additional 2,622 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Bloomin’ Brands by 16.1% during the second quarter. Harbor Capital Advisors Inc. now owns 21,552 shares of the restaurant operator’s stock worth $186,000 after buying an additional 2,987 shares in the last quarter.

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.