GrubHub Inc (GRUB) Receives Buy Rating from Loop Capital
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “buy” rating reiterated by research analysts at Loop Capital in a research report issued to clients and investors on Tuesday. They presently have a $46.00 target price on the stock. Loop Capital’s price target suggests a potential upside of 9.50% from the stock’s current price.
A number of other equities research analysts have also issued reports on GRUB. Argus assumed coverage on GrubHub in a research report on Wednesday, October 12th. They issued a “buy” rating and a $52.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price objective (up previously from $32.00) on shares of GrubHub in a research note on Friday, July 29th. Zacks Investment Research raised shares of GrubHub from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, July 13th. Wedbush reissued an “outperform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of GrubHub in a research note on Thursday, July 28th. Finally, Cowen and Company reissued a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of GrubHub in a research note on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $41.41.
Shares of GrubHub (NASDAQ:GRUB) traded up 2.40% during mid-day trading on Tuesday, hitting $43.02. The company had a trading volume of 789,209 shares. The company has a market capitalization of $3.67 billion and a PE ratio of 89.62. The company’s 50-day moving average is $41.54 and its 200 day moving average is $32.62. GrubHub has a one year low of $17.77 and a one year high of $44.58.
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GrubHub (NASDAQ:GRUB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $114.13 million. GrubHub’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities research analysts forecast that GrubHub will post $0.84 EPS for the current fiscal year.
In related news, SVP Margo Drucker sold 1,054 shares of the firm’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $41.58, for a total value of $43,825.32. Following the completion of the sale, the senior vice president now owns 1,554 shares in the company, valued at $64,615.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew M. Maloney sold 14,491 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.87, for a total transaction of $606,738.17. Following the completion of the sale, the chief executive officer now owns 1,649 shares of the company’s stock, valued at approximately $69,043.63. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of GRUB. Baillie Gifford & Co. increased its stake in GrubHub by 420.2% in the fourth quarter. Baillie Gifford & Co. now owns 8,262,641 shares of the company’s stock valued at $199,956,000 after buying an additional 6,674,346 shares in the last quarter. SRS Investment Management LLC bought a new stake in GrubHub during the fourth quarter valued at about $60,500,000. Norges Bank bought a new stake in GrubHub during the fourth quarter valued at about $53,590,000. Immersion Capital LLP bought a new stake in GrubHub during the fourth quarter valued at about $46,795,000. Finally, Morgan Stanley boosted its stake in GrubHub by 48.2% in the fourth quarter. Morgan Stanley now owns 5,549,598 shares of the company’s stock valued at $134,300,000 after buying an additional 1,804,355 shares in the last quarter.
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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