Bloomin’ Brands (NASDAQ:BLMN) Reaches New 1-Year Low – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $10.88 and last traded at $11.09, with a volume of 643823 shares changing hands. The stock had previously closed at $11.56.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BLMN shares. Bank of America lowered Bloomin’ Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $18.00 to $13.00 in a research note on Monday, January 27th. The Goldman Sachs Group began coverage on Bloomin’ Brands in a research note on Thursday, December 5th. They issued a “sell” rating and a $13.00 price objective on the stock. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Bloomin’ Brands from a “hold” rating to a “sell” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.30.

Bloomin’ Brands Stock Down 2.3 %

The firm has a market cap of $958.10 million, a P/E ratio of -102.65 and a beta of 1.97. The firm’s 50-day moving average price is $12.17 and its 200 day moving average price is $14.80. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Bloomin’ Brands in the third quarter worth $26,000. Headlands Technologies LLC bought a new stake in shares of Bloomin’ Brands during the 4th quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in Bloomin’ Brands during the fourth quarter worth about $41,000. New Age Alpha Advisors LLC bought a new position in Bloomin’ Brands in the fourth quarter worth about $45,000. Finally, KBC Group NV boosted its stake in Bloomin’ Brands by 79.1% in the third 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 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.