Blue Apron (APRN) Rating Increased to Equal Weight at Barclays
Blue Apron (NYSE:APRN) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $4.00 price objective on the stock, up from their previous price objective of $3.00. Barclays’ price target points to a potential upside of 6.38% from the stock’s current price.
Several other equities analysts have also commented on APRN. Royal Bank Of Canada reiterated an “outperform” rating and set a $8.00 price objective (down from $10.00) on shares of Blue Apron in a research report on Tuesday, August 8th. Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price objective on shares of Blue Apron in a research report on Thursday, August 10th. Citigroup lowered Blue Apron from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $5.50 in a research report on Friday, August 11th. SunTrust Banks lowered Blue Apron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $5.50 in a research report on Friday, August 11th. Finally, Canaccord Genuity reduced their price objective on Blue Apron from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.04.
Shares of Blue Apron (APRN) traded up $0.53 during trading on Monday, hitting $3.76. The stock had a trading volume of 11,563,206 shares, compared to its average volume of 3,149,464. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.73 and a current ratio of 3.15. Blue Apron has a 12-month low of $2.94 and a 12-month high of $11.00.
In related news, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $3.26, for a total transaction of $4,761,018.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder First Round Capital Iv Partner sold 104,139 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $3.08, for a total value of $320,748.12. The disclosure for this sale can be found here. Insiders have sold a total of 2,010,459 shares of company stock valued at $6,446,924 over the last 90 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Obermeyer Wood Investment Counsel Lllp purchased a new stake in Blue Apron in the 2nd quarter worth approximately $110,000. Royal Bank of Canada purchased a new stake in Blue Apron in the 2nd quarter worth approximately $141,000. Legal & General Group Plc purchased a new stake in Blue Apron in the 2nd quarter worth approximately $187,000. DekaBank Deutsche Girozentrale purchased a new stake in Blue Apron in the 2nd quarter worth approximately $220,000. Finally, Bank of New York Mellon Corp purchased a new stake in Blue Apron in the 3rd quarter worth approximately $120,000. Institutional investors and hedge funds own 58.35% of the company’s stock.
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Blue Apron Company Profile
Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.
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