GrubHub Inc (GRUB) Earns “Outperform” Rating from Cowen and Company
Cowen and Company restated their outperform rating on shares of GrubHub Inc (NASDAQ:GRUB) in a research report released on Thursday morning. They currently have a $65.00 target price on the information services provider’s stock, up from their prior target price of $54.00.
Several other equities analysts also recently weighed in on the company. DA Davidson began coverage on GrubHub in a report on Wednesday. They set a neutral rating and a $48.00 price target for the company. BidaskClub downgraded GrubHub from a buy rating to a hold rating in a report on Wednesday. Deutsche Bank AG downgraded GrubHub from a buy rating to a hold rating in a report on Tuesday, September 12th. Credit Suisse Group downgraded GrubHub from an outperform rating to a neutral rating and raised their price target for the company from $50.00 to $53.00 in a report on Monday, September 11th. Finally, KeyCorp restated a buy rating and set a $62.00 price target (up from $56.00) on shares of GrubHub in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. GrubHub has an average rating of Hold and an average target price of $51.21.
GrubHub (NASDAQ:GRUB) traded down 2.58% during trading on Thursday, reaching $53.56. 3,166,959 shares of the company’s stock were exchanged. GrubHub has a 12 month low of $32.43 and a 12 month high of $57.61. The stock has a market cap of $4.63 billion and a PE ratio of 78.76. The firm has a 50 day moving average of $54.00 and a 200-day moving average of $43.79.
GrubHub (NASDAQ:GRUB) last issued its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. GrubHub had a return on equity of 5.84% and a net margin of 9.29%. The firm had revenue of $158.79 million during the quarter, compared to the consensus estimate of $158.13 million. On average, equities research analysts anticipate that GrubHub will post $1.10 earnings per share for the current fiscal year.
In other GrubHub news, COO Stanley Chia sold 837 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $43.54, for a total value of $36,442.98. Following the transaction, the chief operating officer now directly owns 1,215 shares of the company’s stock, valued at $52,901.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew M. Maloney sold 6,250 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $44.69, for a total value of $279,312.50. The disclosure for this sale can be found here. Insiders sold 411,568 shares of company stock worth $21,454,308 over the last three months.
A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in shares of GrubHub by 6.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,453 shares of the information services provider’s stock valued at $108,000 after buying an additional 148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of GrubHub by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the information services provider’s stock valued at $120,000 after buying an additional 285 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in shares of GrubHub during the 2nd quarter valued at about $146,000. Chicago Partners Investment Group LLC purchased a new position in shares of GrubHub during the 2nd quarter valued at about $154,000. Finally, Karp Capital Management Corp purchased a new position in shares of GrubHub during the 1st quarter valued at about $214,000.
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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