Several other equities research analysts also recently issued reports on GRUB. Stifel Nicolaus reiterated a buy rating and set a $45.00 price target (up previously from $32.00) on shares of GrubHub in a report on Friday, July 29th. Morgan Stanley reiterated an equal weight rating and set a $26.00 price target (down previously from $30.00) on shares of GrubHub in a report on Tuesday, June 14th. Zacks Investment Research upgraded GrubHub from a hold rating to a buy rating and set a $34.00 price target for the company in a report on Wednesday, July 13th. Wedbush reiterated an outperform rating and set a $47.00 price target (up previously from $40.00) on shares of GrubHub in a report on Thursday, July 28th. Finally, Cowen and Company reiterated a market perform rating and set a $26.00 price target (up previously from $22.00) on shares of GrubHub in a report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $40.40.
GrubHub (NASDAQ:GRUB) traded down 0.55% on Wednesday, reaching $40.13. The company’s stock had a trading volume of 738,116 shares. The firm has a 50 day moving average of $41.30 and a 200 day moving average of $32.18. GrubHub has a 12 month low of $17.77 and a 12 month high of $44.58. The firm has a market cap of $3.42 billion and a price-to-earnings ratio of 83.60.
GrubHub (NASDAQ:GRUB) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $114.13 million. During the same quarter last year, the company posted $0.17 EPS. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Analysts anticipate that GrubHub will post $0.84 earnings per share for the current year.
In related news, Director Benjamin C. Spero sold 1,968,007 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $38.84, for a total transaction of $76,437,391.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stanley Chia sold 5,838 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $38.81, for a total value of $226,572.78. The disclosure for this sale can be found here.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in GrubHub by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 2,288,586 shares of the company’s stock worth $71,106,000 after buying an additional 169,633 shares during the last quarter. Bank of New York Mellon Corp raised its stake in GrubHub by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 320,356 shares of the company’s stock worth $9,953,000 after buying an additional 13,879 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in GrubHub during the second quarter worth about $21,899,000. DIAM Co. Ltd. raised its stake in GrubHub by 12.9% in the second quarter. DIAM Co. Ltd. now owns 43,976 shares of the company’s stock worth $1,342,000 after buying an additional 5,020 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in GrubHub by 16.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,558,304 shares of the company’s stock worth $39,160,000 after buying an additional 217,357 shares during the last quarter.
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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