Restaurants giant Bloomin' Brands is getting mighty close to its all-time high. Sales and profits keep growing. And its stock on Wednesday rose to the highest point since mid-June 2021. Also on Wednesday the Relative Strength (RS) Rating for Bloomin' Brands stock climbed from 69 to 76.
It's within a stone's throw of its 32.81 all-time high, set in April 2021. On Wednesday, Bloomin' Brands stock climbed 2.4% to 29.55 in strong volume. It was the fourth higher close in a row.
The upgraded 76 RS Rating shows that Bloomin' Brands bested 75% of all stocks for price performance over the past 52 weeks.
Bloomin' Brands Stock Among Top 10% Overall
Among its other ratings, watchlist candidate Bloomin' Brands stock has a very good 90 Composite Rating. It also boasts a B Accumulation/Distribution Rating, showing fairly strong buying by big money institutional investors like ETFs and insurance company funds. Additionally, it has an excellent A SMR Rating, on an A-to-E scale with A tops. The SMR Rating combines sales, margins and return on equity.
One yellow flag is its 62 Earnings Per Share Rating Rating, which in large part reflects weaker earnings in prior years. It's posted decent, though uneven, profits this past year.
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Tampa Fla.-based Bloomin' Brands operates Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill fish restaurants. Also, Fleming's Prime Steakhouse and Aussie Grill restaurant chains.
In terms of fundamentals, in its latest quarter the restaurant company reported 10% EPS growth to 75 cents per share on a 9% increase in revenue to $1.194 billion. The prior three quarters it recorded EPS growth of 23%, 9% and 26% on milder revenue growth of 9%, 2% and 2%.
Bloomin' Brands stock has moved more than 5% past a 27.61 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Peers In Restaurants Group
Bloomin' Brands stock earns the No. 14 rank among its peers in the 54-stock Retail-Restaurants industry group. CAVA Group, Chipotle Mexican Grill and Shake Shack are among the top 5 highly rated stocks within the group.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 as they launch their biggest price moves. See if Bloomin' Brands stock can continue to show renewed price strength and clear that threshold.
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