GrubHub Inc (GRUB) Hits New 12-Month High at $40.01
GrubHub Inc (NASDAQ:GRUB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.01 and last traded at $38.92, with a volume of 1,120,569 shares traded. The stock had previously closed at $38.70.
Several brokerages recently issued reports on GRUB. Brean Capital began coverage on shares of GrubHub in a research report on Saturday, June 4th. They issued a “buy” rating for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 target price (down from $30.00) on shares of GrubHub in a research report on Tuesday, June 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 target price (up from $32.00) on shares of GrubHub in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of GrubHub from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, July 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $47.00 target price (up from $40.00) on shares of GrubHub in a research report on Thursday, July 28th. Seven investment 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 company. GrubHub has an average rating of “Buy” and an average target price of $38.62.
The stock has a market capitalization of $3.26 billion and a P/E ratio of 80.12. The firm has a 50 day moving average price of $33.16 and a 200-day moving average price of $26.50.
GrubHub (NASDAQ:GRUB) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $114.13 million. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. Equities research analysts predict that GrubHub Inc will post $0.84 EPS for the current year.
In other GrubHub news, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction on Monday, June 13th. The shares were sold at an average price of $28.33, for a total value of $141,650.00. Following the sale, the chief financial officer now directly owns 5,500 shares in the company, valued at approximately $155,815. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin C. Spero sold 500,000 shares of GrubHub stock in a transaction on Friday, May 27th. The shares were 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.
Other hedge funds recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of GrubHub by 8.2% in the fourth quarter. Rhumbline Advisers now owns 71,522 shares of the company’s stock worth $1,731,000 after buying an additional 5,430 shares in the last quarter. Eaton Vance Management bought a new stake in shares of GrubHub during the fourth quarter worth about $3,061,000. New York State Common Retirement Fund increased its stake 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 worth $4,808,000 after buying an additional 27,190 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake 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 worth $5,339,000 after buying an additional 13,400 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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