Bloomin' Brands (NASDAQ:BLMN) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Bloomin’ Brands from “underweight” to “neutral” and set a $13 price target, implying 64.35% upside from the prior close.
• Analyst sentiment remains broadly cautious: the stock carries a consensus “Hold” rating and an average price target of $10.60, despite some recent upgrades from other firms.
• Bloomin’ Brands exceeded quarterly expectations, reporting $0.39 in EPS versus a $0.29 consensus estimate and $1.02 billion in revenue, up 1.3% year over year.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) was upgraded by JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $13.00 price target on the restaurant operator's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 64.35% from the company's previous close.

BLMN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $11.00 price objective on shares of Bloomin' Brands in a research report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Bloomin' Brands from $8.00 to $12.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Bloomin' Brands from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of Bloomin' Brands from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Citigroup dropped their price objective on Bloomin' Brands from $9.50 to $8.75 and set a "neutral" rating on the stock in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.60.

Bloomin' Brands Stock Up 0.4%

BLMN stock opened at $7.91 on Tuesday. The stock's 50 day moving average is $9.55 and its 200-day moving average is $8.03. Bloomin' Brands has a twelve month low of $5.19 and a twelve month high of $12.63. The firm has a market capitalization of $677.25 million, a PE ratio of 25.52, a P/E/G ratio of 2.03 and a beta of 1.23. The company has a quick ratio of 0.18, a current ratio of 0.25 and a debt-to-equity ratio of 1.62.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The restaurant operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Bloomin' Brands had a return on equity of 28.95% and a net margin of 0.70%.The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period last year, the business earned $0.32 EPS. The business's revenue was up 1.3% on a year-over-year basis. Bloomin' Brands has set its FY 2026 guidance at 0.900-1.000 EPS and its Q3 2026 guidance at -0.270--0.220 EPS. Sell-side analysts expect that Bloomin' Brands will post 0.98 EPS for the current fiscal year.

Institutional Trading of Bloomin' Brands

Several hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in Bloomin' Brands in the 2nd quarter valued at approximately $156,000. IFP Advisors Inc lifted its position in shares of Bloomin' Brands by 357.4% during the second quarter. IFP Advisors Inc now owns 5,022 shares of the restaurant operator's stock worth $46,000 after acquiring an additional 3,924 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Bloomin' Brands by 146.3% in the second quarter. Allworth Financial LP now owns 6,069 shares of the restaurant operator's stock worth $55,000 after acquiring an additional 3,605 shares during the period. Corient Private Wealth LP bought a new position in shares of Bloomin' Brands in the second quarter worth $131,000. Finally, HighTower Advisors LLC grew its position in shares of Bloomin' Brands by 7.8% in the second quarter. HighTower Advisors LLC now owns 24,844 shares of the restaurant operator's stock valued at $227,000 after purchasing an additional 1,808 shares in the last quarter.

About Bloomin' Brands

Bloomin' Brands, Inc is a restaurant company that owns, operates and franchises a portfolio of casual dining and upscale-casual restaurant concepts. Its brands include Outback Steakhouse, known for steaks and other Australian-inspired menu offerings; Carrabba's Italian Grill, which specializes in Italian-American cuisine; Bonefish Grill, focused on seafood and grilled dishes; and Fleming's Prime Steakhouse & Wine Bar, which offers prime steaks, seafood and wine. The company also operates additional concepts, including Aussie Grill and Tender Shack.

Bloomin' Brands serves customers primarily in the United States, with restaurants and franchise operations in select international markets.

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