GrubHub Inc (GRUB) Downgraded to Neutral at Citigroup Inc.
GrubHub Inc (NASDAQ:GRUB) was downgraded by equities researchers at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat reports. They currently have a $56.00 price target on the information services provider’s stock, up from their previous price target of $52.00. Citigroup Inc.’s price objective would indicate a potential upside of 7.73% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Pacific Crest reissued an “overweight” rating and set a $50.00 price target on shares of GrubHub in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $53.00 price target (up previously from $50.00) on shares of GrubHub in a report on Wednesday, August 9th. Craig Hallum began coverage on shares of GrubHub in a report on Monday, September 25th. They set a “buy” rating and a $70.00 price target for the company. DA Davidson began coverage on shares of GrubHub in a report on Wednesday, September 13th. They set a “neutral” rating and a $48.00 price target for the company. Finally, Cowen and Company reissued an “outperform” rating and set a $65.00 price target (up previously from $54.00) on shares of GrubHub in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. GrubHub currently has an average rating of “Buy” and an average target price of $53.67.
Shares of GrubHub (NASDAQ GRUB) traded down 3.92% during trading on Thursday, reaching $51.98. 2,300,285 shares of the company’s stock were exchanged. GrubHub has a 52 week low of $32.43 and a 52 week high of $57.61. The stock has a market capitalization of $4.49 billion and a PE ratio of 76.44. The company’s 50-day moving average is $54.28 and its 200 day moving average is $45.63.
GrubHub (NASDAQ:GRUB) last released its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $158.79 million during the quarter, compared to the consensus estimate of $158.13 million. GrubHub had a net margin of 9.29% and a return on equity of 5.84%. On average, analysts forecast that GrubHub will post $1.09 earnings per share for the current year.
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In other GrubHub news, CFO Adam Dewitt sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $45.15, for a total transaction of $135,450.00. Following the sale, the chief financial officer now owns 26,224 shares in the company, valued at approximately $1,184,013.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Maria Belousova sold 1,266 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $45.13, for a total value of $57,134.58. Following the sale, the insider now owns 1,266 shares in the company, valued at approximately $57,134.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 389,723 shares of company stock worth $20,612,266.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in 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 buying an additional 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 buying an additional 285 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in GrubHub during the 2nd quarter worth about $146,000. Chicago Partners Investment Group LLC acquired a new stake in GrubHub during the 2nd quarter worth about $154,000. Finally, Karp Capital Management Corp acquired a new stake in GrubHub during the 1st quarter worth about $214,000.
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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