Blue Apron (APRN) Earns “Hold” Rating from Stifel Nicolaus

Blue Apron (NYSE:APRN)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a report issued on Wednesday, MarketBeat.com reports. They currently have a $4.00 price target on the stock, down from their prior price target of $6.00. Stifel Nicolaus’ target price would indicate a potential upside of 15.27% from the stock’s current price.

A number of other research firms have also commented on APRN. Zacks Investment Research raised Blue Apron from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Barclays downgraded Blue Apron from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $5.00 to $3.00 in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Blue Apron in a report on Friday, December 1st. Gabelli started coverage on Blue Apron in a report on Friday, February 2nd. They set a “buy” rating and a $6.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price objective (down from $8.00) 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 issued a buy rating to the stock. Blue Apron currently has an average rating of “Hold” and an average target price of $6.61.

Blue Apron (NYSE:APRN) traded up $0.12 during midday trading on Wednesday, hitting $3.47. The stock had a trading volume of 3,191,486 shares, compared to its average volume of 2,665,661. The firm has a market capitalization of $657.58 and a price-to-earnings ratio of -3.10. 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 52 week low of $2.94 and a 52 week high of $11.00.

Blue Apron (NYSE:APRN) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.07. The business had revenue of $187.70 million for the quarter, compared to analyst estimates of $186.13 million. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.39) EPS. analysts anticipate that Blue Apron will post -1.65 EPS for the current fiscal year.

In related news, CEO Brad Dickerson purchased 180,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $3.93 per share, for a total transaction of $707,400.00. Following the completion of the purchase, the chief executive officer now directly owns 40,000 shares in the company, valued at $157,200. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy J. Smith purchased 25,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was bought at an average price of $3.89 per share, with a total value of $97,250.00. Following the completion of the purchase, the senior vice president now owns 28,386 shares of the company’s stock, valued at $110,421.54. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 245,000 shares of company stock valued at $959,450 and sold 361,895 shares valued at $1,103,691.

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in Blue Apron by 3,473.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock worth $310,000 after purchasing an additional 79,157 shares during the last quarter. Armistice Capital LLC acquired a new stake in Blue Apron during the 4th quarter worth approximately $4,030,000. Lombard Odier Asset Management USA Corp acquired a new stake in Blue Apron during the 4th quarter worth approximately $705,000. Geode Capital Management LLC lifted its holdings in Blue Apron by 39.8% during the 4th quarter. Geode Capital Management LLC now owns 156,799 shares of the company’s stock worth $631,000 after purchasing an additional 44,602 shares during the last quarter. Finally, River & Mercantile Asset Management LLP lifted its holdings in Blue Apron by 113.9% during the 4th quarter. River & Mercantile Asset Management LLP now owns 2,222,005 shares of the company’s stock worth $8,966,000 after purchasing an additional 1,183,136 shares during the last quarter. 58.74% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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