Zacks Investment Research cut shares of Blue Apron Holdings Inc (NASDAQ:APRN) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Blue Apron Holdings, Inc. provides recipes and fresh ingredients for making home cooking accessible. It product consists of Blue Apron Meals, Blue Apron Wine, the Blue Apron Market and BN Ranch, a premium supplier of grass-fed beef and pasture-raised poultry. Blue Apron Holdings, Inc. is headquartered in New York. “

A number of other research analysts have also recently issued reports on APRN. Northcoast Research initiated coverage on Blue Apron Holdings in a research note on Tuesday, July 11th. They set a sell rating and a $2.00 price objective for the company. Royal Bank Of Canada initiated coverage on Blue Apron Holdings in a research note on Monday, July 24th. They set an outperform rating and a $10.00 price objective for the company. Goldman Sachs Group, Inc. (The) initiated coverage on Blue Apron Holdings in a research note on Monday, July 24th. They set a buy rating and a $11.00 price objective for the company. Barclays PLC initiated coverage on Blue Apron Holdings in a research note on Monday, July 24th. They set an equal weight rating and a $7.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on Blue Apron Holdings in a research note on Monday, July 24th. They set a buy rating and a $10.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $7.67.

Shares of Blue Apron Holdings (NASDAQ:APRN) traded up 6.796% on Tuesday, reaching $6.034. The company’s stock had a trading volume of 2,204,747 shares. The stock has a 50-day moving average of $5.61 and a 200 day moving average of $6.33. Blue Apron Holdings has a 52-week low of $5.00 and a 52-week high of $11.00. The company’s market cap is $181.28 million.

Blue Apron Holdings (NASDAQ:APRN) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.21). The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.78 million. Blue Apron Holdings’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts forecast that Blue Apron Holdings will post ($1.60) earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of APRN. FMR LLC purchased a new position in shares of Blue Apron Holdings in the second quarter worth $42,090,000. Capital World Investors purchased a new position in shares of Blue Apron Holdings in the second quarter worth $36,476,000. JPMorgan Chase & Co. purchased a new position in shares of Blue Apron Holdings in the second quarter worth $31,439,000. Victory Capital Management Inc. purchased a new position in shares of Blue Apron Holdings in the second quarter worth $14,010,000. Finally, Laurion Capital Management LP purchased a new position in shares of Blue Apron Holdings in the second quarter worth $10,274,000.

About Blue Apron Holdings

Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.

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Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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