GrubHub Inc (GRUB) Rating Reiterated by Wedbush
GrubHub Inc (NASDAQ:GRUB)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Tuesday. They presently have a $60.00 price objective on the information services provider’s stock, down from their previous price objective of $63.00. Wedbush’s price objective would suggest a potential upside of 15.91% from the company’s previous close. Wedbush also issued estimates for GrubHub’s FY2017 earnings at $0.83 EPS.
A number of other equities research analysts have also issued reports on the stock. Pacific Crest reissued an “overweight” rating and issued a $50.00 price objective on shares of GrubHub in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $53.00 price objective (up previously from $50.00) on shares of GrubHub in a report on Wednesday, August 9th. Craig Hallum initiated coverage on shares of GrubHub in a report on Monday. They issued a “buy” rating and a $70.00 price objective for the company. DA Davidson initiated coverage on shares of GrubHub in a report on Wednesday, September 13th. They issued a “neutral” rating and a $48.00 price objective for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $65.00 price objective (up previously from $54.00) on shares of GrubHub in a report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.42.
Shares of GrubHub (NASDAQ:GRUB) opened at 51.61 on Tuesday. The stock has a 50 day moving average of $54.42 and a 200 day moving average of $44.19. The company has a market cap of $4.46 billion and a price-to-earnings ratio of 75.90. GrubHub has a 12-month low of $32.43 and a 12-month high of $57.61.
GrubHub (NASDAQ:GRUB) last released its earnings results on Thursday, August 3rd. The information services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. GrubHub had a net margin of 9.29% and a return on equity of 5.84%. The business had revenue of $158.79 million during the quarter, compared to analyst estimates of $158.13 million. Equities research analysts predict that GrubHub will post $1.10 earnings per share for the current fiscal year.
In other news, insider Barbara Martin Coppola sold 2,916 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $55.97, for a total transaction of $163,208.52. Following the sale, the insider now owns 11,559 shares of the company’s stock, valued at $646,957.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Dewitt sold 3,722 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $43.80, for a total transaction of $163,023.60. Following the sale, the chief financial officer now directly owns 26,627 shares in the company, valued at approximately $1,166,262.60. The disclosure for this sale can be found here. Insiders have sold 390,380 shares of company stock worth $20,528,502 in the last three months.
Several institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of GrubHub during the second quarter worth about $19,789,000. Koch Industries Inc. acquired a new stake in shares of GrubHub during the second quarter worth about $456,000. Ameritas Investment Partners Inc. lifted its position in shares of GrubHub by 8.1% during the second quarter. Ameritas Investment Partners Inc. now owns 7,544 shares of the information services provider’s stock worth $329,000 after purchasing an additional 567 shares in the last quarter. Caledonia Private Investments Pty Ltd lifted its position in shares of GrubHub by 3.4% during the second quarter. Caledonia Private Investments Pty Ltd now owns 9,911,910 shares of the information services provider’s stock worth $432,159,000 after purchasing an additional 329,401 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of GrubHub by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 69,758 shares of the information services provider’s stock worth $3,041,000 after purchasing an additional 3,580 shares in the last quarter.
GrubHub Company Profile
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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