Bloomin' Brands (NASDAQ:BLMN) Given New $16.00 Price Target at Piper Sandler

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) had its target price reduced by research analysts at Piper Sandler from $20.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. Piper Sandler's price target indicates a potential upside of 16.28% from the company's previous close.

Other equities research analysts have also issued reports about the company. StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Raymond James downgraded shares of Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research report on Monday. Barclays dropped their price objective on shares of Bloomin' Brands from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday. BMO Capital Markets decreased their target price on shares of Bloomin' Brands from $27.00 to $20.00 and set a "market perform" rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup dropped their price target on shares of Bloomin' Brands from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.70.

Bloomin' Brands Trading Down 9.2 %

Shares of BLMN stock traded down $1.39 during trading hours on Monday, reaching $13.76. 4,375,452 shares of the stock traded hands, compared to its average volume of 1,498,664. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $1.17 billion, a PE ratio of -124.44 and a beta of 2.04. Bloomin' Brands has a 1-year low of $13.63 and a 1-year high of $30.13. The business has a fifty day moving average price of $16.42 and a 200 day moving average price of $18.77.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its earnings results on Friday, November 8th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Bloomin' Brands had a net margin of 0.70% and a return on equity of 61.90%. The company's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts forecast that Bloomin' Brands will post 1.77 EPS for the current year.

Institutional Trading of Bloomin' Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLMN. Gladius Capital Management LP acquired a new stake in Bloomin' Brands in the 3rd quarter worth $26,000. Headlands Technologies LLC acquired a new position in Bloomin' Brands in the 1st quarter valued at approximately $30,000. KBC Group NV raised its holdings in Bloomin' Brands by 79.1% in the 3rd quarter. KBC Group NV now owns 3,371 shares of the restaurant operator's stock valued at $56,000 after acquiring an additional 1,489 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Bloomin' Brands by 6,454.9% in the 1st quarter. EntryPoint Capital LLC now owns 3,343 shares of the restaurant operator's stock worth $96,000 after acquiring an additional 3,292 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bloomin' Brands during the 2nd quarter worth approximately $111,000.

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; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.