Blue Apron (NYSE:APRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Blue Apron Holdings, Inc. provides recipes and fresh ingredients for making home cooking accessible. It product consists of Blue Apron Meals, Blue Apron Wine, the Blue Apron Market and BN Ranch, a premium supplier of grass-fed beef and pasture-raised poultry. Blue Apron Holdings, Inc. is headquartered in New York. “
Several other research firms also recently commented on APRN. KeyCorp reiterated a “sector weight” rating on shares of Blue Apron in a report on Monday, September 18th. Canaccord Genuity reiterated a “buy” rating and issued a $11.00 price objective on shares of Blue Apron in a report on Thursday, September 14th. Guggenheim assumed coverage on Blue Apron in a report on Monday, September 25th. They issued a “buy” rating and a $9.00 price objective for the company. SunTrust Banks reiterated a “hold” rating and issued a $5.50 price objective on shares of Blue Apron in a report on Tuesday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective (down from $6.50) on shares of Blue Apron in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Blue Apron currently has a consensus rating of “Hold” and a consensus price target of $7.04.
Blue Apron (NYSE:APRN) last released its quarterly earnings data on Thursday, November 2nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). The company had revenue of $210.60 million during the quarter, compared to the consensus estimate of $191.47 million. During the same period last year, the firm earned ($0.56) EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that Blue Apron will post -1.71 EPS for the current year.
In other Blue Apron news, major shareholder First Round Capital Iv, L.P. sold 77,647 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $3.13, for a total transaction of $243,035.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy J. Smith acquired 25,000 shares of the stock in a transaction dated Monday, December 11th. The shares were bought at an average cost of $3.89 per share, for a total transaction of $97,250.00. Following the completion of the transaction, the senior vice president now owns 28,386 shares in the company, valued at $110,421.54. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 245,000 shares of company stock valued at $959,450 and have sold 2,010,459 shares valued at $6,446,924.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Blue Apron during the 3rd quarter valued at about $120,000. Royal Bank of Canada purchased a new position in shares of Blue Apron during the 2nd quarter valued at about $141,000. BBR Partners LLC purchased a new position in shares of Blue Apron during the 3rd quarter valued at about $147,000. Legal & General Group Plc purchased a new position in shares of Blue Apron during the 2nd quarter valued at about $187,000. Finally, SG Americas Securities LLC purchased a new position in shares of Blue Apron during the 2nd quarter valued at about $264,000. 58.35% of the stock is currently owned by hedge funds and other institutional investors.
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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