Morgan Stanley upgraded shares of GrubHub Inc (NASDAQ:GRUB) from an equal weight rating to an overweight rating in a research report report published on Monday, Marketbeat.com reports. The firm currently has $59.00 price target on the information services provider’s stock, up from their previous price target of $43.00.

A number of other research analysts also recently issued reports on GRUB. Cowen and Company restated a hold rating on shares of GrubHub in a report on Sunday, April 30th. Wedbush set a $55.00 price target on GrubHub and gave the company a buy rating in a report on Friday. Canaccord Genuity boosted their price target on GrubHub from $47.00 to $50.00 and gave the company a buy rating in a report on Friday. Wells Fargo & Company restated a hold rating on shares of GrubHub in a report on Friday. Finally, Credit Suisse Group set a $50.00 price target on GrubHub and gave the company a buy rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. GrubHub has a consensus rating of Buy and an average target price of $48.87.

Shares of GrubHub (NASDAQ GRUB) traded down 1.83% during midday trading on Monday, hitting $55.92. The company had a trading volume of 1,446,985 shares. GrubHub has a 52 week low of $32.43 and a 52 week high of $56.98. The company has a market capitalization of $4.82 billion and a P/E ratio of 84.73. The firm’s 50 day moving average is $44.99 and its 200 day moving average is $40.28.

GrubHub (NASDAQ:GRUB) last announced its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. GrubHub had a return on equity of 7.21% and a net margin of 11.35%. The company had revenue of $158.79 million for the quarter, compared to the consensus estimate of $158.13 million. Equities research analysts anticipate that GrubHub will post $1.10 EPS for the current year.

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In other news, CFO Adam Dewitt sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $44.95, for a total value of $89,900.00. Following the sale, the chief financial officer now directly owns 26,890 shares of the company’s stock, valued at approximately $1,208,705.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Stanley Chia sold 822 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $46.65, for a total value of $38,346.30. Following the completion of the sale, the chief operating officer now directly owns 1,215 shares in the company, valued at $56,679.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,026 shares of company stock worth $8,275,634.

Several hedge funds have recently modified their holdings of GRUB. Caledonia Private Investments Pty Ltd boosted its stake in shares of GrubHub by 14.0% in the first quarter. Caledonia Private Investments Pty Ltd now owns 9,582,509 shares of the information services provider’s stock worth $315,169,000 after buying an additional 1,174,124 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of GrubHub by 1.4% in the first quarter. Baillie Gifford & Co. now owns 8,242,999 shares of the information services provider’s stock worth $271,112,000 after buying an additional 112,260 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of GrubHub by 4.3% in the first quarter. Vanguard Group Inc. now owns 6,748,946 shares of the information services provider’s stock worth $221,973,000 after buying an additional 281,024 shares in the last quarter. BlackRock Inc. boosted its stake in shares of GrubHub by 75,703.7% in the first quarter. BlackRock Inc. now owns 5,080,365 shares of the information services provider’s stock worth $167,094,000 after buying an additional 5,073,663 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of GrubHub by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 3,095,577 shares of the information services provider’s stock worth $101,814,000 after buying an additional 387,276 shares in the last quarter.

About GrubHub

Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.

Analyst Recommendations for GrubHub (NASDAQ:GRUB)

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