GrubHub (GRUB) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of GrubHub (NYSE:GRUB) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $80.00 target price on the information services provider’s stock.
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 firms have also issued reports on GRUB. Wedbush lowered shares of GrubHub from an outperform rating to a neutral rating and increased their target price for the stock from $65.00 to $70.00 in a report on Monday, January 8th. They noted that the move was a valuation call. Wells Fargo & Co reissued a market perform rating and issued a $68.00 target price (up from $58.00) on shares of GrubHub in a report on Monday, January 8th. Oppenheimer increased their target price on shares of GrubHub to $80.00 and gave the stock an outperform rating in a report on Friday, January 5th. Canaccord Genuity reissued a buy rating and issued a $80.00 target price on shares of GrubHub in a report on Tuesday, January 2nd. Finally, Credit Suisse Group set a $65.00 target price on shares of GrubHub and gave the stock a hold rating in a report on Thursday, January 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $62.61.
GrubHub (NYSE:GRUB) last released its earnings results on Wednesday, October 25th. The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $163.10 million during the quarter, compared to analyst estimates of $159.63 million. GrubHub had a net margin of 9.60% and a return on equity of 7.45%. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. sell-side analysts anticipate that GrubHub will post 0.89 earnings per share for the current year.
In related news, CEO Matthew M. Maloney sold 56,250 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $71.09, for a total value of $3,998,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stanley Chia sold 645 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $60.60, for a total transaction of $39,087.00. Following the completion of the transaction, the chief operating officer now directly owns 1,215 shares of the company’s stock, valued at $73,629. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,393 shares of company stock valued at $28,330,028. Insiders own 2.37% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of GrubHub in the third quarter valued at $105,000. PNC Financial Services Group Inc. grew its holdings in shares of GrubHub by 6.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,453 shares of the information services provider’s stock valued at $108,000 after purchasing an additional 148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of GrubHub by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the information services provider’s stock valued at $120,000 after purchasing an additional 285 shares in the last quarter. Asset Dedication LLC purchased a new position in shares of GrubHub in the third quarter valued at $165,000. Finally, BT Investment Management Ltd purchased a new position in shares of GrubHub in the third quarter valued at $195,000.
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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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