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Raymond James analyst Brian Vaccaro initiated coverage with a Buy rating on Bloomin’ Brands (BLMN) today and set a price target of $24.00. The company’s shares closed last Wednesday at $18.70.
According to TipRanks.com, Vaccaro is a 3-star analyst with an average return of 4.3% and a 52.4% success rate. Vaccaro covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Carrols Restaurant Group, and Brinker International.
Bloomin’ Brands has an analyst consensus of Moderate Buy, with a price target consensus of $20.40, representing a 10.6% upside. In a report issued on December 14, J.P. Morgan also maintained a Buy rating on the stock with a $22.00 price target.
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Based on Bloomin’ Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $771 million and GAAP net loss of $17.64 million. In comparison, last year the company earned revenue of $967 million and had a net profit of $9.25 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLMN in relation to earlier this year. Last month, Elizabeth A. Smith, a Director at BLMN sold 250,000 shares for a total of $4,201,936.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Bloomin’ Brands, Inc. engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the following segments: U.S. and International. The U.S. segment operates in USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China. Its brands include Outback Steakhouse, Carrabba’s Italian Grill. Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar. The company was founded by Chris Thomas Sullivan, Robert Danker Basham and John Timothy Gannon in October 2006 and is headquartered in Tampa, FL.
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