Blue Apron (APRN) Stock Rating Upgraded by Barclays

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.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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