Bloomin’ Brands (NASDAQ:BLMN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Bloomin’ Brands (NASDAQ:BLMN) from a sell rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

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. “

BLMN has been the topic of a number of other research reports. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of in a research note on Friday, June 28th. Tigress Financial reaffirmed a buy rating on shares of Bloomin’ Brands in a research note on Thursday, April 18th. BMO Capital Markets reaffirmed a hold rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the company a hold rating in a research note on Friday, June 28th. Finally, BidaskClub raised Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $21.73.



BLMN opened at $17.63 on Tuesday. The firm has a market cap of $1.60 billion, a PE ratio of 11.44, a P/E/G ratio of 1.10 and a beta of 0.27. The company has a current ratio of 0.30, a quick ratio of 0.21 and a debt-to-equity ratio of 9.20. The stock has a 50 day moving average price of $18.74. Bloomin’ Brands has a 1-year low of $17.00 and a 1-year high of $22.22.

Bloomin’ Brands (NASDAQ:BLMN) last released its quarterly earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Bloomin’ Brands had a return on equity of 124.00% and a net margin of 2.56%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, equities analysts expect that Bloomin’ Brands will post 1.59 earnings per share for the current fiscal year.

In other Bloomin’ Brands news, insider Elizabeth A. Smith sold 116,318 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $19.99, for a total transaction of $2,325,196.82. Following the transaction, the insider now owns 411,733 shares of the company’s stock, valued at approximately $8,230,542.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Elizabeth A. Smith sold 65,486 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $20.00, for a total value of $1,309,720.00. Following the transaction, the chairman now directly owns 411,733 shares in the company, valued at approximately $8,234,660. The disclosure for this sale can be found here. Corporate insiders own 4.39% of the company’s stock.

Several institutional investors have recently modified their holdings of BLMN. Norges Bank purchased a new position in shares of Bloomin’ Brands during the 4th quarter worth $32,422,000. Copeland Capital Management LLC purchased a new position in shares of Bloomin’ Brands during the 1st quarter worth $12,877,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Bloomin’ Brands by 196.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 592,025 shares of the restaurant operator’s stock worth $12,107,000 after purchasing an additional 392,427 shares during the period. Spark Investment Management LLC lifted its stake in shares of Bloomin’ Brands by 79.1% during the 1st quarter. Spark Investment Management LLC now owns 822,200 shares of the restaurant operator’s stock worth $16,813,000 after purchasing an additional 363,000 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Bloomin’ Brands by 17.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,166,913 shares of the restaurant operator’s stock worth $38,766,000 after purchasing an additional 326,731 shares during the period. 94.17% of the stock is currently owned by institutional investors.

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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