Bank of America Corp. Upgrades GrubHub Inc (GRUB) to Buy
GrubHub Inc (NASDAQ:GRUB) was upgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.
GRUB has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of GrubHub in a report on Wednesday, July 20th. Cowen and Company reaffirmed a “market perform” rating and issued a $26.00 price target (up previously from $22.00) on shares of GrubHub in a report on Wednesday, July 27th. Stifel Nicolaus cut GrubHub from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a report on Tuesday, October 4th. Zacks Investment Research cut GrubHub from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, JMP Securities upped their price target on GrubHub from $35.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, July 29th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.00.
GrubHub (NASDAQ:GRUB) opened at 40.35 on Thursday. The stock has a market capitalization of $3.44 billion and a price-to-earnings ratio of 84.06. GrubHub has a 12 month low of $17.77 and a 12 month high of $44.58. The company has a 50 day moving average price of $41.30 and a 200 day moving average price of $32.18.
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GrubHub (NASDAQ:GRUB) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company earned $120.20 million during the quarter, compared to the consensus estimate of $114.13 million. GrubHub’s quarterly revenue was up 36.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. Equities research analysts predict that GrubHub will post $0.84 earnings per share for the current year.
In related news, SVP Margo Drucker sold 5,271 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $29.88, for a total value of $157,497.48. Following the completion of the sale, the senior vice president now directly owns 5,771 shares in the company, valued at $172,437.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Dewitt sold 5,000 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $40.77, for a total transaction of $203,850.00. Following the completion of the sale, the chief financial officer now owns 5,500 shares of the company’s stock, valued at $224,235. The disclosure for this sale can be found here.
A number of large investors have recently modified their holdings of GRUB. Fox Run Management L.L.C. acquired a new stake in shares of GrubHub during the third quarter worth about $236,000. First Mercantile Trust Co. boosted its stake in shares of GrubHub by 259.9% in the third quarter. First Mercantile Trust Co. now owns 7,990 shares of the company’s stock worth $344,000 after buying an additional 5,770 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of GrubHub by 5.8% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 146,223 shares of the company’s stock worth $6,286,000 after buying an additional 8,072 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of GrubHub by 6.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 282,807 shares of the company’s stock worth $8,787,000 after buying an additional 16,010 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of GrubHub during the second quarter worth about $329,000.
GrubHub Company Profile
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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