JPMorgan Chase & Co. Has Lowered Expectations for Bloomin' Brands (NASDAQ:BLMN) Stock Price

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) had its target price cut by analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the restaurant operator's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 16.96% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Bloomin' Brands from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $18.00 to $13.00 in a research report on Monday, January 27th. BMO Capital Markets dropped their price objective on shares of Bloomin' Brands from $16.00 to $12.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Raymond James cut shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research note on Monday, November 11th. Piper Sandler dropped their price objective on shares of Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Bloomin' Brands from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat.com, Bloomin' Brands has an average rating of "Hold" and a consensus target price of $14.60.

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Bloomin' Brands Price Performance

Shares of BLMN traded up $0.35 during mid-day trading on Monday, hitting $8.55. 2,375,295 shares of the company were exchanged, compared to its average volume of 1,726,736. Bloomin' Brands has a 1-year low of $8.00 and a 1-year high of $29.10. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The company has a 50 day moving average of $11.18 and a 200-day moving average of $13.62. The stock has a market cap of $726.16 million, a price-to-earnings ratio of -77.72 and a beta of 2.04.

Insider Activity

In related news, EVP Patrick M. Hafner sold 9,555 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.32, for a total transaction of $79,497.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Bloomin' Brands

A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $3,519,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $32,000. Two Sigma Advisers LP purchased a new position in shares of Bloomin' Brands during the 4th quarter worth approximately $1,552,000. Two Sigma Investments LP boosted its position in shares of Bloomin' Brands by 160.9% during the 4th quarter. Two Sigma Investments LP now owns 401,697 shares of the restaurant operator's stock worth $4,905,000 after purchasing an additional 247,702 shares during the period. Finally, State of Wyoming boosted its position in shares of Bloomin' Brands by 99.5% during the 4th quarter. State of Wyoming now owns 10,319 shares of the restaurant operator's stock worth $126,000 after purchasing an additional 5,146 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.