Canaccord Genuity upgraded shares of Blue Apron (NYSE:APRN) from a hold rating to a buy rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have $18.00 target price on the stock, up from their previous target price of $13.00.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Blue Apron from a buy rating to a hold rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on shares of Blue Apron from $6.00 to $6.10 and gave the company an equal weight rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Blue Apron presently has an average rating of Hold and an average target price of $9.46.
APRN stock opened at $11.97 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.30 and a quick ratio of 0.72. Blue Apron has a 1-year low of $2.01 and a 1-year high of $28.84. The firm has a fifty day moving average price of $11.76 and a two-hundred day moving average price of $8.42. The firm has a market cap of $160.17 million, a price-to-earnings ratio of -3.72 and a beta of -4.68.
Blue Apron (NYSE:APRN) last released its earnings results on Wednesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.53. Blue Apron had a negative net margin of 15.72% and a negative return on equity of 103.21%. The firm had revenue of $131.04 million during the quarter. As a group, analysts expect that Blue Apron will post -4.4 EPS for the current fiscal year.
In related news, major shareholder Holdings Ltd Dph acquired 109,131 shares of Blue Apron stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average price of $8.42 per share, with a total value of $918,883.02. Following the completion of the acquisition, the insider now directly owns 1,443,630 shares of the company’s stock, valued at approximately $12,155,364.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 129,041 shares of company stock valued at $1,140,697 in the last ninety days. Corporate insiders own 24.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Blue Apron by 310.3% in the first quarter. BlackRock Inc. now owns 585,020 shares of the company’s stock worth $7,050,000 after purchasing an additional 442,442 shares during the period. Tenzing Global Management LLC lifted its holdings in Blue Apron by 57.1% in the first quarter. Tenzing Global Management LLC now owns 550,000 shares of the company’s stock worth $6,628,000 after purchasing an additional 200,000 shares during the period. Renaissance Technologies LLC lifted its holdings in Blue Apron by 8.5% in the fourth quarter. Renaissance Technologies LLC now owns 441,712 shares of the company’s stock worth $2,906,000 after purchasing an additional 34,500 shares during the period. Maverick Capital Ltd. acquired a new stake in Blue Apron in the 1st quarter valued at about $2,673,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Blue Apron by 1,262.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 147,597 shares of the company’s stock valued at $971,000 after acquiring an additional 136,760 shares during the last quarter. 30.74% of the stock is owned by institutional investors and hedge funds.
Blue Apron Company Profile
Blue Apron Holdings, Inc operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides cooking tools, utensils, and pantry items. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals; and supplies poultry, beef, and lamb.
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