Morgan Stanley Lowers Blue Apron (APRN) Price Target to $4.50

Blue Apron (NYSE:APRN) had its price objective cut by equities researchers at Morgan Stanley from $4.70 to $4.50 in a research note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 29.68% from the stock’s current price.

A number of other equities research analysts also recently commented on APRN. Zacks Investment Research downgraded shares of Blue Apron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and issued a $5.50 target price on shares of Blue Apron in a research report on Tuesday, October 24th. Barclays downgraded shares of Blue Apron from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Friday, November 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price (down previously from $8.00) on shares of Blue Apron in a research report on Friday, November 3rd. Finally, Canaccord Genuity cut their target price on shares of Blue Apron from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $6.61.

Blue Apron (NYSE APRN) traded up $0.12 during trading hours on Wednesday, reaching $3.47. 3,191,486 shares of the company’s stock were exchanged, 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. Blue Apron has a fifty-two week low of $2.94 and a fifty-two week high of $11.00. The company has a market cap of $657.58 and a P/E ratio of -3.10.

Blue Apron (NYSE:APRN) last posted its 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 the consensus estimate of $186.13 million. During the same period last year, the firm posted ($0.39) EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. equities analysts predict that Blue Apron will post -1.65 earnings per share for the current year.

In other Blue Apron news, SVP Timothy J. Smith acquired 25,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $3.89 per share, with a total value of $97,250.00. Following the transaction, the senior vice president now directly owns 28,386 shares in the company, valued at approximately $110,421.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder First Round Capital Iv Partner sold 189,819 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $3.04, for a total transaction of $577,049.76. The disclosure for this sale can be found here. In the last three months, insiders have bought 245,000 shares of company stock valued at $959,450 and have sold 361,895 shares valued at $1,103,691.

A number of institutional investors have recently modified their holdings of APRN. Bank of New York Mellon Corp bought a new position in Blue Apron in the 3rd quarter worth $120,000. Royal Bank of Canada bought a new position in Blue Apron in the 2nd quarter worth $141,000. BBR Partners LLC bought a new position in Blue Apron in the 3rd quarter worth $147,000. BlueCrest Capital Management Ltd bought a new position in Blue Apron in the 2nd quarter worth $280,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Blue Apron by 3,473.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock worth $310,000 after buying an additional 79,157 shares during the period. 58.74% of the stock is owned by institutional investors.

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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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