GrubHub Inc (GRUB) PT Raised to $64.00 at Bank of America Corporation
GrubHub Inc (NASDAQ:GRUB) had its price objective upped by analysts at Bank of America Corporation from $54.00 to $64.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the information services provider’s stock. Bank of America Corporation’s price target would suggest a potential upside of 12.78% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Roth Capital reaffirmed a “buy” rating on shares of GrubHub in a research report on Monday, May 22nd. Pacific Crest reissued an “overweight” rating and issued a $50.00 price target on shares of GrubHub in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of GrubHub in a report on Wednesday, August 9th. Wedbush set a $50.00 price target on GrubHub and gave the stock a “buy” rating in a report on Monday, June 19th. Finally, Wells Fargo & Company initiated coverage on GrubHub in a report on Thursday, June 15th. They issued a “market perform” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.74.
GrubHub (NASDAQ GRUB) opened at 56.75 on Tuesday. The company has a market cap of $4.90 billion and a PE ratio of 83.46. The company has a 50-day moving average of $52.04 and a 200-day moving average of $42.93. GrubHub has a 52 week low of $32.43 and a 52 week high of $57.29.
GrubHub (NASDAQ:GRUB) last issued its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. GrubHub had a return on equity of 5.84% and a net margin of 9.29%. The company had revenue of $158.79 million for the quarter, compared to the consensus estimate of $158.13 million. On average, equities analysts expect that GrubHub will post $1.10 EPS for the current year.
In other news, CFO Adam Dewitt sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $45.00, for a total value of $135,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,557 shares in the company, valued at $1,240,065. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew M. Maloney sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $44.69, for a total value of $279,312.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 403,318 shares of company stock valued at $20,960,433.
Institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of GrubHub in the first quarter valued at approximately $531,000. Geneva Advisors LLC purchased a new stake in shares of GrubHub in the second quarter valued at approximately $622,000. Tudor Investment Corp ET AL purchased a new stake in shares of GrubHub in the first quarter valued at approximately $949,000. EULAV Asset Management increased its position in shares of GrubHub by 35.8% in the first quarter. EULAV Asset Management now owns 220,000 shares of the information services provider’s stock valued at $7,236,000 after buying an additional 58,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of GrubHub by 4.3% in the first quarter. Vanguard Group Inc. now owns 6,748,946 shares of the information services provider’s stock valued at $221,973,000 after buying an additional 281,024 shares in the last quarter.
Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.
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