GrubHub Inc (GRUB) Hits New 1-Year High at $40.01
GrubHub Inc (NASDAQ:GRUB) hit a new 52-week high on Wednesday . The company traded as high as $40.01 and last traded at $38.92, with a volume of 1,120,569 shares changing hands. The stock had previously closed at $38.70.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised GrubHub from a “sell” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a report on Tuesday, August 2nd. Pacific Crest reaffirmed a “sector perform” rating on shares of GrubHub in a report on Tuesday, August 2nd. Morgan Stanley reaffirmed a “hold” rating and issued a $31.00 target price on shares of GrubHub in a report on Wednesday, August 3rd. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price (up previously from $40.00) on shares of GrubHub in a report on Thursday, July 28th. Finally, Citigroup Inc. increased their price target on GrubHub from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.62.
The company has a market capitalization of $3.28 billion and a price-to-earnings ratio of 80.740. The stock has a 50-day moving average of $32.65 and a 200 day moving average of $26.32.
GrubHub (NASDAQ:GRUB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $114.13 million. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities research analysts anticipate that GrubHub Inc will post $0.84 earnings per share for the current year.
In related news, Director David Fisher sold 10,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $39.02, for a total value of $390,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $390,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin C. Spero sold 1,000,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $38.81, for a total transaction of $38,810,000.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in GRUB. California Public Employees Retirement System raised its position in shares of 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 during the period. New York State Common Retirement Fund raised its position in shares of 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 during the period. Eaton Vance Management bought a new position in shares of GrubHub during the fourth quarter valued at about $3,061,000. Finally, Rhumbline Advisers raised its position in shares of 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 during the period.
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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