Zacks Investment Research Lowers GrubHub Inc (NASDAQ:GRUB) to Sell
GrubHub Inc (NASDAQ:GRUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “GrubHub Inc. is an online and mobile food ordering company. The Company’s platform assists diners in searching for local restaurant, tracking the order and re-order for convenience. It operates within the United States and the United Kingdom. GrubHub Inc. is based in United States. “
Several other research analysts have also commented on the stock. Vetr raised shares of GrubHub from a “sell” rating to a “strong-buy” rating and set a $62.06 price objective for the company in a research note on Monday, July 17th. CIBC raised their price objective on shares of GrubHub from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Roth Capital raised their price objective on shares of GrubHub from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Maxim Group reissued a “hold” rating on shares of GrubHub in a research note on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. raised shares of GrubHub from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $48.87.
GrubHub (NASDAQ GRUB) traded down 1.53% during midday trading on Tuesday, hitting $56.09. 2,925,369 shares of the stock were exchanged. GrubHub has a 12 month low of $32.43 and a 12 month high of $56.98. The firm’s 50 day moving average price is $45.47 and its 200 day moving average price is $40.47. The company has a market cap of $4.84 billion and a PE ratio of 84.98.
GrubHub (NASDAQ:GRUB) last announced its earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $158.79 million during the quarter, compared to analyst estimates of $158.13 million. GrubHub had a net margin of 11.35% and a return on equity of 7.21%. On average, equities research analysts forecast that GrubHub will post $1.10 earnings per share for the current fiscal year.
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In other GrubHub news, SVP Margo Drucker sold 1,737 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $43.85, for a total transaction of $76,167.45. Following the sale, the senior vice president now owns 1,554 shares of the company’s stock, valued at $68,142.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew M. Maloney sold 52,656 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $48.02, for a total transaction of $2,528,541.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,026 shares of company stock worth $8,875,634.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GrubHub by 11.5% in the second 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. Fortaleza Asset Management Inc. bought a new stake in GrubHub during the second quarter worth $146,000. Chicago Partners Investment Group LLC bought a new stake in GrubHub during the second quarter worth $154,000. Karp Capital Management Corp bought a new stake in GrubHub during the first quarter worth $214,000. Finally, Global Endowment Management LP boosted its stake in GrubHub by 9.4% in the first quarter. Global Endowment Management LP now owns 6,520 shares of the information services provider’s stock worth $215,000 after buying an additional 560 shares during the last quarter.
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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