GrubHub’s (GRUB) Buy Rating Reiterated at Craig Hallum
GrubHub Inc. (NYSE:GRUB)‘s stock had its “buy” rating reiterated by analysts at Craig Hallum in a research note issued to investors on Tuesday, The Fly reports. They presently have a $80.00 price target on the information services provider’s stock, up from their previous price target of $70.00. Craig Hallum’s target price would indicate a potential upside of 19.99% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price target on shares of GrubHub in a report on Thursday, August 10th. BidaskClub raised shares of GrubHub from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Wedbush set a $55.00 price target on shares of GrubHub and gave the company a “buy” rating in a report on Friday, August 4th. Stifel Nicolaus set a $53.00 price target on shares of GrubHub and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Roth Capital set a $55.00 price target on shares of GrubHub and gave the company a “buy” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. GrubHub has an average rating of “Buy” and an average target price of $58.61.
GrubHub (GRUB) traded up $1.64 during mid-day trading on Tuesday, reaching $66.67. 394,135 shares of the company traded hands, compared to its average volume of 2,010,235. The firm has a market capitalization of $5,630.00, a P/E ratio of 74.37, a P/E/G ratio of 3.55 and a beta of 1.64. GrubHub has a 1-year low of $32.43 and a 1-year high of $65.08.
In related news, CEO Matthew M. Maloney sold 61,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $55.73, for a total value of $3,399,530.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Adam Dewitt sold 5,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $51.13, for a total value of $255,650.00. Following the completion of the transaction, the chief financial officer now owns 20,114 shares in the company, valued at approximately $1,028,428.82. The disclosure for this sale can be found here. Insiders sold a total of 437,794 shares of company stock worth $25,423,822 in the last quarter. 2.37% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new position in GrubHub in the second quarter worth approximately $19,789,000. Bank of New York Mellon Corp boosted its position in GrubHub by 11.7% during the second quarter. Bank of New York Mellon Corp now owns 736,610 shares of the information services provider’s stock worth $32,116,000 after purchasing an additional 77,237 shares during the period. Geneva Advisors LLC bought a new stake in GrubHub during the second quarter worth approximately $622,000. Delta Lloyd Asset Management N.V. bought a new stake in GrubHub during the second quarter worth approximately $2,126,000. Finally, Principal Financial Group Inc. boosted its position in GrubHub by 51.3% during the second quarter. Principal Financial Group Inc. now owns 17,348 shares of the information services provider’s stock worth $756,000 after purchasing an additional 5,880 shares during the period.
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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