GrubHub’s (GRUB) “Overweight” Rating Reiterated at Pacific Crest
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “overweight” rating reissued by Pacific Crest in a research note issued to investors on Monday. They presently have a $62.00 price target on the information services provider’s stock. Pacific Crest’s target price would suggest a potential upside of 19.95% from the stock’s previous close.
Several other research analysts have also recently weighed in on the company. Craig Hallum began coverage on GrubHub in a research note on Monday. They set a “buy” rating and a $70.00 target price for the company. Canaccord Genuity raised their target price on GrubHub from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Cowen and Company reaffirmed an “outperform” rating and set a $65.00 target price (up previously from $54.00) on shares of GrubHub in a research note on Thursday, September 14th. DA Davidson began coverage on GrubHub in a research note on Wednesday, September 13th. They set a “neutral” rating and a $48.00 target price for the company. Finally, BidaskClub cut GrubHub from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $53.21.
GrubHub (GRUB) traded down 0.822% during midday trading on Monday, hitting $51.265. 893,566 shares of the company traded hands. The stock has a 50 day moving average of $54.42 and a 200 day moving average of $44.19. The stock has a market cap of $4.43 billion and a P/E ratio of 75.390. GrubHub has a 12-month low of $32.43 and a 12-month high of $57.61.
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, beating the Thomson Reuters’ 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 business had revenue of $158.79 million during the quarter, compared to analysts’ expectations of $158.13 million. Equities research analysts predict that GrubHub will post $1.10 EPS for the current fiscal year.
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In other 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 transaction of $36,442.98. Following the completion of the sale, the chief operating officer now directly owns 1,215 shares of the company’s stock, valued at approximately $52,901.10. The transaction 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 88,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $55.83, for a total value of $4,913,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 384,130 shares of company stock valued at $20,208,877 over the last ninety days.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of GrubHub by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 14,125 shares of the information services provider’s stock worth $616,000 after purchasing an additional 36 shares in the last quarter. Renaissance Group LLC raised its stake in shares of GrubHub by 0.9% during the 2nd quarter. Renaissance Group LLC now owns 8,856 shares of the information services provider’s stock worth $386,000 after purchasing an additional 80 shares in the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $108,000 after purchasing an additional 148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $120,000 after purchasing an additional 285 shares in the last quarter. Finally, Global Endowment Management LP raised its stake in shares of GrubHub by 9.4% during the 1st quarter. Global Endowment Management LP now owns 6,520 shares of the information services provider’s stock worth $215,000 after purchasing an additional 560 shares in the last quarter.
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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