Blue Apron (APRN) Rating Reiterated by Royal Bank of Canada

Blue Apron (NYSE:APRN)‘s stock had its “hold” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Wednesday. They presently have a $4.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 15.27% from the stock’s current price.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded Blue Apron from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Gabelli initiated coverage on Blue Apron in a research report on Friday, February 2nd. They issued a “buy” rating and a $6.00 price target for the company. KeyCorp restated a “hold” rating on shares of Blue Apron in a research report on Friday, December 1st. Stifel Nicolaus restated a “hold” rating and issued a $6.00 price target on shares of Blue Apron in a research report on Friday, November 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price target (down previously from $6.50) on shares of Blue Apron in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.61.

Shares of Blue Apron (NYSE:APRN) traded up $0.12 on Wednesday, reaching $3.47. The company’s stock had a trading volume of 3,201,485 shares, compared to its average volume of 2,665,661. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.73 and a current ratio of 3.15. The stock has a market capitalization of $657.58 and a PE ratio of -3.10. Blue Apron has a fifty-two week low of $2.94 and a fifty-two week high of $11.00.

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

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APRN. Bank of New York Mellon Corp purchased a new position in Blue Apron during the 3rd quarter valued at approximately $120,000. Royal Bank of Canada purchased a new position in Blue Apron during the 2nd quarter valued at approximately $141,000. BBR Partners LLC purchased a new position in Blue Apron during the 3rd quarter valued at approximately $147,000. BlueCrest Capital Management Ltd purchased a new position in Blue Apron during the 2nd quarter valued at approximately $280,000. Finally, Goldman Sachs Group Inc. grew 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 valued at $310,000 after buying an additional 79,157 shares in the last quarter. Institutional investors and hedge funds own 58.74% 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.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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