Wells Fargo & Co Reiterates Market Perform Rating for GrubHub (GRUB)
Wells Fargo & Co restated their market perform rating on shares of GrubHub (NYSE:GRUB) in a report issued on Monday, The Fly reports. They currently have a $68.00 target price on the information services provider’s stock, up from their prior target price of $58.00.
A number of other equities analysts have also issued reports on the company. Wedbush lowered GrubHub from an outperform rating to a neutral rating and upped their target price for the company from $65.00 to $70.00 in a research report on Monday. They noted that the move was a valuation call. Oppenheimer upped their target price on GrubHub to $80.00 and gave the company an outperform rating in a research report on Friday. Credit Suisse Group set a $65.00 target price on GrubHub and gave the company a hold rating in a research report on Thursday, January 4th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a buy rating and issued a $80.00 target price on shares of GrubHub in a research report on Tuesday, January 2nd. Finally, KeyCorp set a $80.00 target price on GrubHub and gave the company a buy rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $62.05.
GrubHub (NYSE:GRUB) traded down $2.20 during trading on Monday, reaching $69.16. The company had a trading volume of 2,602,409 shares, compared to its average volume of 1,457,283. The firm has a market cap of $6,000.00, a price-to-earnings ratio of 101.71, a PEG ratio of 3.15 and a beta of 1.67. GrubHub has a 12-month low of $32.43 and a 12-month high of $74.81.
In related news, CFO Adam Dewitt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $51.13, for a total transaction of $255,650.00. Following the sale, the chief financial officer now directly owns 20,114 shares of the company’s stock, valued at approximately $1,028,428.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stanley Chia sold 645 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $60.60, for a total value of $39,087.00. Following the sale, the chief operating officer now directly owns 1,215 shares in the company, valued at $73,629. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,393 shares of company stock worth $28,330,028. Corporate insiders own 2.37% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in GrubHub during the 3rd quarter worth $105,000. PNC Financial Services Group Inc. grew its stake in 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 worth $108,000 after buying an additional 148 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GrubHub by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the information services provider’s stock worth $120,000 after buying an additional 285 shares during the last quarter. Asset Dedication LLC bought a new position in GrubHub during the 3rd quarter worth $165,000. Finally, Comerica Bank bought a new position in GrubHub during the 3rd quarter worth $201,000.
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GrubHub Company Profile
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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