Blue Apron (NYSE:APRN) was upgraded by investment analysts at Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Monday. The brokerage presently has a $4.00 price objective on the stock, up from their prior price objective of $3.00. Barclays’ price target points to a potential upside of 6.38% from the company’s previous close.
Several other research analysts also recently weighed in on APRN. SunTrust Banks downgraded shares of Blue Apron from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $5.50 in a research note on Friday, August 11th. Oppenheimer downgraded shares of Blue Apron from an “outperform” rating to a “market perform” rating and set a $11.00 target price for the company. in a research note on Friday, August 11th. Needham & Company LLC restated a “buy” rating and issued a $6.50 target price (down from $10.00) on shares of Blue Apron in a research note on Friday, August 11th. Citigroup downgraded shares of Blue Apron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $5.50 in a research note on Friday, August 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $8.00 target price (down from $10.00) on shares of Blue Apron in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.04.
Blue Apron (NYSE APRN) opened at $3.76 on Monday. The company has a current ratio of 3.15, a quick ratio of 2.73 and a debt-to-equity ratio of 0.48. Blue Apron has a 52 week low of $2.94 and a 52 week high of $11.00.
Blue Apron (NYSE:APRN) last announced its earnings results on Thursday, November 2nd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). The firm had revenue of $210.60 million for the quarter, compared to analyst estimates of $191.47 million. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.56) EPS. sell-side analysts forecast that Blue Apron will post -1.66 EPS for the current fiscal year.
In other Blue Apron news, major shareholder First Round Capital Iv Partner sold 110,482 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $3.07, for a total transaction of $339,179.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder First Round Capital Iv, L.P. sold 77,647 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $3.13, for a total transaction of $243,035.11. The disclosure for this sale can be found here. Insiders sold 2,010,459 shares of company stock worth $6,446,924 over the last ninety days.
Several large investors have recently modified their holdings of the business. FMR LLC acquired a new stake in shares of Blue Apron during the second quarter worth $42,090,000. Capital World Investors acquired a new stake in shares of Blue Apron in the 2nd quarter worth about $36,476,000. JPMorgan Chase & Co. acquired a new stake in shares of Blue Apron in the 2nd quarter worth about $31,439,000. Victory Capital Management Inc. acquired a new stake in shares of Blue Apron in the 2nd quarter worth about $14,010,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Blue Apron in the 2nd quarter worth about $10,274,000. 58.35% of the stock is currently owned by institutional investors.
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Blue Apron Company Profile
Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.
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