GrubHub Inc (GRUB) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of GrubHub Inc (NASDAQ:GRUB) from a buy rating to a hold rating in a report issued on Friday morning.
According to Zacks, “GrubHub Inc. is an online and mobile food ordering company. The Company’s platform assists diners in searching for local restaurant, tracking the order and re-order for convenience. It operates within the United States and the United Kingdom. GrubHub Inc. is based in United States. “
Several other research analysts have also recently weighed in on the company. Canaccord Genuity reaffirmed a buy rating and set a $50.00 price objective on shares of GrubHub in a research report on Thursday, August 10th. Stifel Nicolaus reaffirmed a buy rating and set a $53.00 price objective (up from $50.00) on shares of GrubHub in a research report on Wednesday, August 9th. BidaskClub raised GrubHub from a hold rating to a buy rating in a research report on Wednesday, August 9th. Cowen and Company reaffirmed an outperform rating and set a $54.00 price objective on shares of GrubHub in a research report on Wednesday, August 9th. Finally, Wedbush reaffirmed an outperform rating and set a $60.00 price objective (down from $63.00) on shares of GrubHub in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $58.18.
Shares of GrubHub (GRUB) traded up $1.46 during trading on Friday, hitting $63.10. The company’s stock had a trading volume of 1,267,000 shares, compared to its average volume of 2,043,482. GrubHub has a 12 month low of $32.43 and a 12 month high of $63.16.
GrubHub (NASDAQ:GRUB) last announced its quarterly earnings results on Wednesday, October 25th. The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. GrubHub had a return on equity of 5.01% and a net margin of 7.97%. The company had revenue of $163.10 million during the quarter, compared to the consensus estimate of $159.63 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year.
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In other news, CEO Matthew M. Maloney sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $55.73, for a total value of $3,399,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stanley Chia sold 4,671 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $54.17, for a total value of $253,028.07. Following the completion of the sale, the chief operating officer now directly owns 4,671 shares of the company’s stock, valued at $253,028.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 394,778 shares of company stock valued at $22,544,555.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of GrubHub by 0.3% during the second quarter. Alps Advisors Inc. now owns 14,125 shares of the information services provider’s stock worth $616,000 after purchasing an additional 36 shares during the period. Renaissance Group LLC increased its stake in shares of GrubHub by 0.9% during the second quarter. Renaissance Group LLC now owns 8,856 shares of the information services provider’s stock worth $386,000 after purchasing an additional 80 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of GrubHub by 6.4% during the second quarter. PNC Financial Services Group Inc. now owns 2,453 shares of the information services provider’s stock worth $108,000 after purchasing an additional 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of GrubHub by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the information services provider’s stock worth $120,000 after purchasing an additional 285 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake 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 during the period.
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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