Zacks Investment Research Upgrades Bloomin’ Brands (NASDAQ:BLMN) to “Hold”

Bloomin’ Brands (NASDAQ:BLMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, 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. Tigress Financial reiterated a “buy” rating on shares of Bloomin’ Brands in a research note on Thursday, April 18th. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of in a research note on Friday, June 28th. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of Foot Locker in a research note on Friday, May 24th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Bloomin’ Brands has a consensus rating of “Hold” and an average price target of $21.73.

Shares of NASDAQ BLMN traded up $0.11 during trading hours on Tuesday, reaching $17.51. 155,762 shares of the stock were exchanged, compared to its average volume of 1,602,137. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.14 and a beta of 0.27. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 9.20. Bloomin’ Brands has a 52 week low of $17.00 and a 52 week high of $22.22. The company’s fifty day simple moving average is $18.82.

Bloomin’ Brands (NASDAQ:BLMN) last announced its earnings results on Friday, April 26th. The restaurant operator reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Bloomin’ Brands had a return on equity of 124.00% and a net margin of 2.56%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. On average, research analysts predict that Bloomin’ Brands will post 1.59 EPS for the current fiscal year.

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

Several hedge funds have recently modified their holdings of the business. QS Investors LLC boosted its holdings in shares of Bloomin’ Brands by 0.3% in the 4th quarter. QS Investors LLC now owns 193,301 shares of the restaurant operator’s stock valued at $3,459,000 after purchasing an additional 500 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Bloomin’ Brands by 72.0% in the 4th quarter. Advisor Group Inc. now owns 3,233 shares of the restaurant operator’s stock valued at $57,000 after purchasing an additional 1,353 shares in the last quarter. Menta Capital LLC boosted its holdings in shares of Bloomin’ Brands by 7.2% in the 4th quarter. Menta Capital LLC now owns 25,458 shares of the restaurant operator’s stock valued at $455,000 after purchasing an additional 1,700 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of Bloomin’ Brands by 11.9% in the 4th quarter. Commonwealth Bank of Australia now owns 16,900 shares of the restaurant operator’s stock valued at $302,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Bloomin’ Brands by 3.4% in the 4th quarter. Legal & General Group Plc now owns 69,098 shares of the restaurant operator’s stock valued at $1,237,000 after purchasing an additional 2,261 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

About Bloomin’ Brands

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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