GrubHub Inc (GRUB) Trading Up 3.5%
GrubHub Inc (NASDAQ:GRUB) was up 3.5% during mid-day 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 traded. The stock had previously closed at $36.70.
Several equities research analysts have recently issued reports on GRUB shares. Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price objective on shares of GrubHub in a research report on Thursday, June 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 price objective (up from $34.00) on shares of GrubHub in a research report on Sunday, July 31st. Maxim Group started coverage on shares of GrubHub in a research report on Friday, June 3rd. They set a “buy” rating and a $33.00 price objective for the company. Mizuho reaffirmed a “buy” rating and set a $33.00 price objective (up from $28.00) on shares of GrubHub in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research raised shares of GrubHub from a “sell” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. GrubHub currently has a consensus rating of “Buy” and a consensus target price of $38.93.
The firm has a market cap of $3.24 billion and a P/E ratio of 79.12. The company’s 50-day moving average price is $34.25 and its 200-day moving average price is $27.16.
GrubHub (NASDAQ:GRUB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $114.13 million. GrubHub’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Equities research analysts anticipate that GrubHub Inc will post $0.84 EPS for the current year.
In related news, SVP Margo Drucker sold 6,325 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $29.38, for a total transaction of $185,828.50. Following the completion of the sale, the senior vice president now directly owns 6,825 shares of the company’s stock, valued at approximately $200,518.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew M. Maloney sold 11,193 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $28.00, for a total transaction of $313,404.00. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in GRUB. Rhumbline Advisers raised its stake in 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 during the last quarter. Eaton Vance Management purchased a new stake in GrubHub during the fourth quarter worth $3,061,000. Finally, New York State Common Retirement Fund raised its stake 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 worth $4,808,000 after buying an additional 27,190 shares during 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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