Blue Apron (NYSE:APRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $2.25 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 4.65% from the stock’s previous close.
According to Zacks, “Blue Apron Holdings, Inc. provides recipes and fresh ingredients for making home cooking accessible. It product consists of Blue Apron Meals, Blue Apron Wine, the Blue Apron Market and BN Ranch, a premium supplier of grass-fed beef and pasture-raised poultry. Blue Apron Holdings, Inc. is headquartered in New York. “
Other equities analysts have also issued research reports about the company. Gabelli initiated coverage on Blue Apron in a research report on Friday, February 2nd. They issued a “buy” rating and a $6.00 price target for the company. Barclays raised Blue Apron from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $3.00 to $4.00 in a research report on Monday, December 4th. Morgan Stanley lowered their price target on Blue Apron from $4.70 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. KeyCorp reaffirmed a “hold” rating on shares of Blue Apron in a research report on Friday, December 1st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.00 price target on shares of Blue Apron in a research report on Wednesday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.40.
APRN stock traded up $0.08 on Wednesday, hitting $2.15. The stock had a trading volume of 2,064,596 shares, compared to its average volume of 3,462,754. The company has a quick ratio of 2.66, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. Blue Apron has a 12-month low of $2.00 and a 12-month high of $11.00.
Blue Apron (NYSE:APRN) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.07. The firm had revenue of $187.70 million during the quarter, compared to analyst estimates of $186.13 million. Blue Apron had a negative return on equity of 787.55% and a negative net margin of 23.85%. Blue Apron’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.39) EPS. sell-side analysts forecast that Blue Apron will post -0.72 earnings per share for the current fiscal year.
In other Blue Apron news, CTO Ilia M. Papas sold 133,333 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $3.54, for a total transaction of $471,998.82. Following the completion of the sale, the chief technology officer now directly owns 140,833 shares in the company, valued at approximately $498,548.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Benjamin C. Singer sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $3.50, for a total value of $35,000.00. Following the sale, the general counsel now owns 10,000 shares of the company’s stock, valued at $35,000. The disclosure for this sale can be found here. Insiders sold a total of 276,666 shares of company stock valued at $853,665 over the last quarter.
Institutional investors have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP grew its stake in shares of Blue Apron by 113.9% during the 4th quarter. River & Mercantile Asset Management LLP now owns 2,222,005 shares of the company’s stock valued at $8,966,000 after purchasing an additional 1,183,136 shares during the period. Stifel Financial Corp bought a new stake in shares of Blue Apron during the 3rd quarter valued at about $805,000. Westpac Banking Corp grew its stake in shares of Blue Apron by 170.2% during the 4th quarter. Westpac Banking Corp now owns 576,324 shares of the company’s stock valued at $2,323,000 after purchasing an additional 363,044 shares during the period. Wells Fargo & Company MN grew its stake in shares of Blue Apron by 27.4% during the 3rd quarter. Wells Fargo & Company MN now owns 85,530 shares of the company’s stock valued at $467,000 after purchasing an additional 18,370 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Blue Apron during the 3rd quarter valued at about $364,000. Institutional investors and hedge funds own 11.48% of the company’s stock.
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About Blue Apron
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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