GrubHub Inc (GRUB) Rating Increased to Buy at Bank of America Corp.
Bank of America Corp. upgraded shares of GrubHub Inc (NASDAQ:GRUB) from a neutral rating to a buy rating in a research report sent to investors on Thursday. Bank of America Corp. currently has $46.00 price target on the stock, up from their prior price target of $40.00.
Other equities analysts have also recently issued reports about the company. JMP Securities lifted their price target on GrubHub from $35.00 to $45.00 and gave the stock a market outperform rating in a research note on Friday, July 29th. Zacks Investment Research cut GrubHub from a buy rating to a hold rating in a research note on Wednesday, September 28th. Barclays PLC lifted their price target on GrubHub from $28.00 to $38.00 and gave the stock an equal weight rating in a research note on Friday, July 29th. Mizuho reaffirmed a buy rating and issued a $33.00 price target on shares of GrubHub in a research note on Wednesday, July 27th. Finally, Wedbush reaffirmed an outperform rating and issued a $47.00 price target (up from $40.00) on shares of GrubHub in a research note on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. GrubHub has an average rating of Hold and an average price target of $41.41.
GrubHub (NASDAQ:GRUB) opened at 42.08 on Thursday. The company has a market capitalization of $3.59 billion and a PE ratio of 87.67. GrubHub has a one year low of $17.77 and a one year high of $44.58. The company has a 50 day moving average price of $41.60 and a 200-day moving average price of $32.74.
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. GrubHub’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Analysts expect that GrubHub will post $0.84 EPS for the current fiscal year.
In other GrubHub news, SVP Margo Drucker sold 1,054 shares of the business’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $41.58, for a total value of $43,825.32. Following the sale, the senior vice president now directly owns 1,554 shares of the company’s stock, valued at $64,615.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew M. Maloney sold 92,666 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $38.34, for a total value of $3,552,814.44. Following the completion of the sale, the chief executive officer now directly owns 1,649 shares in the company, valued at $63,222.66. The disclosure for this sale can be found here.
Large investors have recently added to or reduced their stakes in the company. Huntington National Bank bought a new stake in GrubHub during the second quarter valued at approximately $2,714,000. JPMorgan Chase & Co. increased its stake in GrubHub by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 2,288,586 shares of the company’s stock valued at $71,106,000 after buying an additional 169,633 shares during the period. Bank of New York Mellon Corp increased its stake in GrubHub by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 320,356 shares of the company’s stock valued at $9,953,000 after buying an additional 13,879 shares during the period. Emerald Acquisition Ltd. bought a new stake in GrubHub during the second quarter valued at approximately $21,899,000. Finally, DIAM Co. Ltd. increased its stake in GrubHub by 12.9% in the second quarter. DIAM Co. Ltd. now owns 43,976 shares of the company’s stock valued at $1,342,000 after buying an additional 5,020 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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