Blue Apron (APRN) Issues Earnings Results

Blue Apron (NYSE:APRN) issued its quarterly earnings data on Tuesday. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.07, Morningstar.com reports. The firm had revenue of $187.70 million during the quarter, compared to analyst estimates of $186.13 million. During the same period in the prior year, the company earned ($0.39) earnings per share. The business’s quarterly revenue was down 13.1% compared to the same quarter last year.

Shares of Blue Apron (APRN) opened at $3.35 on Tuesday. Blue Apron has a 1-year low of $2.94 and a 1-year high of $11.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.73 and a current ratio of 3.15.

In other Blue Apron news, CEO Brad Dickerson acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average cost of $3.87 per share, for a total transaction of $154,800.00. Following the transaction, the chief executive officer now directly owns 40,000 shares in the company, valued at $154,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder First Round Capital Iv Partner sold 189,819 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $3.04, for a total value of $577,049.76. The disclosure for this sale can be found here. Over the last three months, insiders have bought 245,000 shares of company stock worth $959,450 and have sold 361,895 shares worth $1,103,691.

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of Blue Apron during the 3rd quarter worth $120,000. Royal Bank of Canada bought a new stake in shares of Blue Apron during the 2nd quarter worth $141,000. BBR Partners LLC bought a new stake in shares of Blue Apron during the 3rd quarter worth $147,000. BlueCrest Capital Management Ltd bought a new stake in shares of Blue Apron during the 2nd quarter worth $280,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Blue Apron during the 3rd quarter worth $364,000. Institutional investors and hedge funds own 58.74% of the company’s stock.

A number of brokerages have commented on APRN. Barclays lowered Blue Apron from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $5.00 to $3.00 in a report on Friday, November 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 target price (down from $8.00) on shares of Blue Apron in a report on Friday, November 3rd. Zacks Investment Research lowered Blue Apron from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Gabelli began coverage on Blue Apron in a report on Friday, February 2nd. They set a “buy” rating and a $6.00 target price on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and set a $6.00 target price on shares of Blue Apron in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.96.

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About Blue Apron

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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