GrubHub’s (NASDAQ:GRUB) “Buy” Rating Reiterated at Canaccord Genuity
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a report issued on Thursday. They currently have a $50.00 price objective on the information services provider’s stock. Canaccord Genuity’s target price suggests a potential downside of 10.43% from the stock’s current price.
Several other equities analysts have also issued reports on the stock. Vetr upgraded shares of GrubHub from a “sell” rating to a “strong-buy” rating and set a $62.06 target price on the stock in a report on Monday, July 17th. CIBC boosted their target price on shares of GrubHub from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Roth Capital boosted their target price on shares of GrubHub from $47.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 17th. Maxim Group restated a “hold” rating on shares of GrubHub in a report on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. upgraded shares of GrubHub from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. GrubHub currently has a consensus rating of “Buy” and an average target price of $48.87.
Shares of GrubHub (NASDAQ:GRUB) traded down 2.83% during mid-day trading on Thursday, reaching $54.24. The company had a trading volume of 1,141,904 shares. The firm has a market capitalization of $4.67 billion and a price-to-earnings ratio of 79.76. GrubHub has a one year low of $32.43 and a one year high of $57.26. The stock has a 50 day moving average of $46.46 and a 200-day moving average of $40.84.
GrubHub (NASDAQ:GRUB) last released its earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $158.79 million for the quarter, compared to analyst estimates of $158.13 million. GrubHub had a net margin of 11.35% and a return on equity of 7.21%. Equities analysts predict that GrubHub will post $1.10 EPS for the current year.
In other news, CFO Adam Dewitt sold 12,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 33,854 shares of the company’s stock, valued at approximately $1,692,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew M. Maloney sold 52,656 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $48.02, for a total transaction of $2,528,541.12. The disclosure for this sale can be found here. Insiders have sold a total of 189,026 shares of company stock valued at $8,875,634 over the last three months.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRUB. BlackRock Inc. increased its position in 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. Alliancebernstein L.P. increased its position in GrubHub by 1,761.3% in the first quarter. Alliancebernstein L.P. now owns 2,343,605 shares of the information services provider’s stock worth $77,081,000 after buying an additional 2,217,695 shares in the last quarter. Clearbridge Investments LLC increased its position in GrubHub by 132.0% in the first quarter. Clearbridge Investments LLC now owns 2,596,093 shares of the information services provider’s stock worth $85,385,000 after buying an additional 1,477,241 shares in the last quarter. Caledonia Private Investments Pty Ltd increased its position in 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. Finally, Fiera Capital Corp bought a new position in GrubHub during the second quarter worth $40,593,000.
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.
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