Bloomin' Brands, the parent of Outback Steakhouse and several other restaurant chains, just edged up into an exclusive group. The Relative Strength (RS) Rating for Bloomin' stock climbed to 81, up from 73 the day before.
Bloomin' Stock Among Top 19%
The new 81 RS Rating means that Bloomin' stock has outperformed 80% of all stocks, regardless of industry group, on price performance over the past year. It's a bullish indicator because market research shows that stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. Among its other key ratings, Bloomin' stock also has an 81 Composite Rating.
The Composite Rating combines five separate proprietary IBD ratings, based on key fundamental and technical criteria, into one easy-to-use score. The best growth stocks have a Composite Rating of 90 or better.
Additionally, the Tampa, Fla.-based company carries a 63 EPS Rating, an A SMR Rating (sales+profit margins+return on equity) on an A to E scale with A tops. It has a B Accumulation/Distribution Rating, on an A+ to E scale with A+ best. The B rating shows that big investors such as mutual funds and ETFs are buying more shares than selling.
In addition to Outback Steakhouse, Bloomin' owns and operates Carrabba's Italian Grill, Bonefish Grill, Flemings Steakhouse restaurants, and Aussie Grill.
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Setting Up Fresh Pattern?
Bloomin' stock is extended and out of the buy range CAN SLIM investors use after clearing a 13.16 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Bloomin' Brands showed 16% earnings growth in its most recent report, to 73 cents per share. Sales also grew 16% to $1.14 billion.
Bloomin' stock holds the No. 6 rank among its peers in the Retail-Restaurants industry group. Flanigans Enterprises and Ark Restaurants are also among the group's highest-rated stocks.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
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