GrubHub Inc (GRUB) Rating Reiterated by Wedbush
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report issued on Wednesday. They presently have a $47.00 price objective on the stock. Wedbush’s price target points to a potential upside of 29.51% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price objective (up previously from $34.00) on shares of GrubHub in a report on Sunday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $32.00) on shares of GrubHub in a report on Friday, July 29th. Mizuho reaffirmed a “buy” rating and issued a $33.00 price objective on shares of GrubHub in a report on Wednesday, July 27th. Citigroup Inc. upped their price objective on shares of GrubHub from $30.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Argus initiated coverage on shares of GrubHub in a report on Wednesday, October 12th. They issued a “buy” rating and a $52.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. GrubHub presently has an average rating of “Buy” and a consensus target price of $42.06.
Shares of GrubHub (NASDAQ:GRUB) opened at 36.29 on Wednesday. The firm’s 50 day moving average is $39.62 and its 200 day moving average is $34.69. GrubHub has a 1-year low of $17.77 and a 1-year high of $44.58. The firm has a market capitalization of $3.11 billion and a PE ratio of 65.98.
GrubHub (NASDAQ:GRUB) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $123.50 million for the quarter, compared to analyst estimates of $118.36 million. During the same period last year, the firm posted $0.08 EPS. The business’s revenue was up 44.1% compared to the same quarter last year. Analysts anticipate that GrubHub will post $0.91 EPS for the current fiscal year.
In other news, SVP Margo Drucker sold 1,054 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $36.62, for a total value of $38,597.48. Following the transaction, the senior vice president now owns 1,554 shares in the company, valued at approximately $56,907.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew M. Maloney sold 139,491 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $40.81, for a total value of $5,692,627.71. Following the completion of the transaction, the chief executive officer now owns 1,649 shares in the company, valued at approximately $67,295.69. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of GRUB. Huntington National Bank acquired a new position in shares of GrubHub during the second quarter worth $2,714,000. Amalgamated Bank purchased a new stake in shares of GrubHub during the second quarter valued at approximately $329,000. JPMorgan Chase & Co. boosted its stake in shares of GrubHub by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 2,288,586 shares of the company’s stock valued at $71,106,000 after buying an additional 169,633 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of GrubHub by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 320,356 shares of the company’s stock valued at $9,953,000 after buying an additional 13,879 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of GrubHub during the second quarter valued at approximately $21,899,000.
GrubHub Company Profile
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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