GrubHub Inc (GRUB) Trading Up 1%
GrubHub Inc (NASDAQ:GRUB)’s share price was up 1% during trading on Tuesday . The stock traded as high as $39.01 and last traded at $38.91, with a volume of 1,635,871 shares traded. The stock had previously closed at $38.52.
Several equities analysts have commented on GRUB shares. Citigroup Inc. reissued a “buy” rating on shares of GrubHub in a research report on Wednesday, June 29th. Mizuho reaffirmed a “buy” rating and issued a $33.00 price target on shares of GrubHub in a research report on Wednesday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price target (up from $34.00) on shares of GrubHub in a research report on Sunday. Bank of America Corp. downgraded GrubHub from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Friday, July 29th. They noted that the move was a valuation call. Finally, Wedbush started coverage on GrubHub in a research report on Thursday, July 7th. They issued an “outperform” rating and a $40.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.62.
The company has a market capitalization of $3.26 billion and a price-to-earnings ratio of 80.17. The firm’s 50 day moving average is $31.59 and its 200-day moving average is $25.77.
GrubHub (NASDAQ:GRUB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $114.13 million. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. On average, equities analysts forecast that GrubHub Inc will post $0.84 EPS for the current year.
In other GrubHub news, CFO Adam Dewitt sold 5,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $28.33, for a total transaction of $141,650.00. Following the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $155,815. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin C. Spero sold 500,000 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $24.54, for a total transaction of $12,270,000.00. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of GRUB. Eaton Vance Management acquired a new stake in shares of GrubHub during the fourth quarter valued at approximately $3,061,000. New York State Common Retirement Fund raised its position in GrubHub by 15.9% in the fourth quarter. New York State Common Retirement Fund now owns 198,668 shares of the company’s stock valued at $4,808,000 after buying an additional 27,190 shares in the last quarter. California Public Employees Retirement System raised its position in GrubHub by 6.5% in the fourth quarter. California Public Employees Retirement System now owns 220,600 shares of the company’s stock valued at $5,339,000 after buying an additional 13,400 shares in the last quarter. Finally, Rhumbline Advisers raised its position in GrubHub by 8.2% in the fourth quarter. Rhumbline Advisers now owns 71,522 shares of the company’s stock valued at $1,731,000 after buying an additional 5,430 shares in the last quarter.
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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