Credit Suisse Upgrades Bloomin' Brands Inc to Outperform with Price Target $21.00

Brokerage firm Credit Suisse Upgrades its rating on Bloomin' Brands Inc(NASDAQ:BLMN). In a research note issued to the investors, the brokerage major Raises the price-target to $21.00 per share. The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, On Feb 18, 2016, Credit Suisse said it Maintains its rating on Bloomin' Brands Inc. In the research note, the firm Lowers the price-target to $18.00 per share. The shares have been rated ‘Neutral’ by the firm.

Bloomin' Brands Inc (BLMN) shares turned negative on Fridays trading session with the shares closing down -0.19 points or -1.06% at a volume of 12,09,389. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.96. The peak price level was also seen at $17.96 while the days lowest was $17.71. Finally the shares closed at $17.78. The 52-week high of the shares is $23.83 while the 52-week low is $14.912. According to the latest information available, the market cap of the company is $2,122 M.

Bloomin' Brands Inc(BLMN) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.05B. Analysts had an estimated revenue of $1.06B. Earnings per share were $0.30. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Chris Thomas Sullivan (director) sold 12,300 shares at $18.01 per share price.Also, On Nov 19, 2015, David J. Deno (EVP & CFAO) purchased 15,135 shares at $16.58 per share price.On May 14, 2015, Tara Walpert Levy (director) purchased 3 shares at $24.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Bloomin’ Brands Inc. is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concept: Outback Steakhouse Carrabba’s Italian Grill Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. As of December 28 2014 the Company owned and operated 1344 restaurants and franchised 166 restaurants across 48 states Puerto Rico Guam and 21 countries. The Company’s business unit Bloomin’ Brands International is engaged in developing and operating its restaurants outside of the United States. Outback Steakhouse is a casual steakhouse restaurant focused on steaks flavors and Australian decor. Carrabba’s Italian Grill is a casual Italian restaurant. Bonefish Grill is a casual seafood restaurant which offers grilled fish. Fleming’s Prime Steakhouse & Wine Bar is a steakhouse which offers beef seafood and pork and chicken entrees accompanied by an assortment of salads and side dishes.

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