GrubHub Inc (GRUB) Given Outperform Rating at Wedbush
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Tuesday. They currently have a $60.00 price target on the information services provider’s stock, down from their previous price target of $63.00. Wedbush’s price objective suggests a potential upside of 16.10% from the stock’s previous close.
Several other brokerages have also commented on GRUB. Stifel Nicolaus set a $53.00 price objective on GrubHub and gave the company a “buy” rating in a report on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $54.00 price objective on shares of GrubHub in a report on Wednesday, August 9th. BidaskClub upgraded GrubHub from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and set a $50.00 price objective on shares of GrubHub in a report on Thursday, August 10th. Finally, Morgan Stanley upgraded GrubHub from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $43.00 to $59.00 in a report on Monday, August 7th. Two investment 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 company currently has an average rating of “Buy” and a consensus price target of $53.42.
GrubHub (NASDAQ:GRUB) last issued its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.22 EPS for the quarter, beating the 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 firm had revenue of $158.79 million during the quarter, compared to analyst estimates of $158.13 million.
In other news, CEO Matthew M. Maloney sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $44.80, for a total transaction of $280,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Adam Dewitt sold 3,722 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $43.80, for a total value of $163,023.60. Following the sale, the chief financial officer now owns 26,627 shares in the company, valued at $1,166,262.60. The disclosure for this sale can be found here. Insiders have sold a total of 384,130 shares of company stock worth $20,208,877 over the last ninety days.
Several large investors have recently bought and sold shares of GRUB. PNC Financial Services Group Inc. grew its position 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 valued at $108,000 after acquiring an additional 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 valued at $120,000 after acquiring an additional 285 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in shares of GrubHub during the 2nd quarter valued at about $146,000. Chicago Partners Investment Group LLC acquired a new stake in shares of GrubHub during the 2nd quarter valued at about $154,000. Finally, Karp Capital Management Corp acquired a new stake in shares of GrubHub during the 1st quarter valued at about $214,000.
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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