GrubHub Inc (GRUB) Trading Up 3.5%
Shares of GrubHub Inc (NASDAQ:GRUB) were up 3.5% during trading on Friday . The stock traded as high as $39.13 and last traded at $37.97, with a volume of 1,329,393 shares changing hands. The stock had previously closed at $36.70.
A number of equities analysts have issued reports on the company. Citigroup Inc. restated a “buy” rating on shares of GrubHub in a report on Wednesday, June 29th. Mizuho restated a “buy” rating and set a $33.00 price target on shares of GrubHub in a report on Wednesday, July 27th. Canaccord Genuity restated a “buy” rating and set a $42.00 price target (up from $34.00) on shares of GrubHub in a report on Sunday, July 31st. Wedbush restated an “outperform” rating and set a $47.00 price target on shares of GrubHub in a report on Monday, August 15th. Finally, Bank of America Corp. cut GrubHub from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Friday, July 29th. They noted that the move was a valuation call. Eight investment 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 company has an average rating of “Buy” and an average target price of $38.93.
The company’s 50 day moving average price is $34.45 and its 200-day moving average price is $27.30. The company has a market capitalization of $3.24 billion and a price-to-earnings ratio of 79.23.
GrubHub (NASDAQ:GRUB) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. The company earned $120.20 million during the quarter, compared to analysts’ expectations of $114.13 million. During the same period last year, the firm earned $0.17 earnings per share. GrubHub’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, equities research analysts anticipate that GrubHub Inc will post $0.84 earnings per share for the current fiscal year.
In other GrubHub news, Director Benjamin C. Spero sold 500,000 shares of GrubHub stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $24.54, for a total value of $12,270,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew M. Maloney sold 700 shares of GrubHub stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $40.00, for a total value of $28,000.00. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in GrubHub stock. Eaton Vance Management purchased a new position in GrubHub Inc (NASDAQ:GRUB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 126,482 shares of the company’s stock, valued at approximately $3,061,000. Eaton Vance Management owned approximately 0.15% of GrubHub as of its most recent SEC filing.
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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