Zacks Investment Research upgraded shares of Blue Apron (NYSE:APRN) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $1.50 price target on the stock.
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. “
Get Blue Apron alerts:Other equities research analysts have also recently issued reports about the stock. Barclays decreased their price target on shares of Blue Apron from $2.50 to $1.25 and set an equal weight rating for the company in a report on Thursday, November 15th. Stifel Nicolaus decreased their price target on shares of Blue Apron from $2.00 to $1.50 and set a hold rating for the company in a report on Thursday, November 15th. Canaccord Genuity cut shares of Blue Apron from a buy rating to a hold rating and decreased their price target for the company from $6.00 to $3.00 in a report on Wednesday, November 14th. ValuEngine cut shares of Blue Apron from a buy rating to a hold rating in a report on Friday, January 25th. Finally, Guggenheim lowered shares of Blue Apron from a buy rating to a neutral rating and set a $1.02 price objective for the company. in a research report on Thursday, November 15th. Ten research analysts have rated the stock with a hold rating, Blue Apron currently has a consensus rating of Hold and a consensus price target of $1.79.
APRN stock opened at $1.08 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.65 and a quick ratio of 1.38. Blue Apron has a 52-week low of $0.65 and a 52-week high of $4.15. The stock has a market cap of $282.87 million, a price-to-earnings ratio of -1.71 and a beta of 1.18.
Blue Apron (NYSE:APRN) last released its quarterly earnings results on Wednesday, January 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.05. Blue Apron had a negative net margin of 18.30% and a negative return on equity of 72.42%. The company had revenue of $140.73 million during the quarter, compared to analysts’ expectations of $137.81 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, equities analysts anticipate that Blue Apron will post -0.35 EPS for the current fiscal year.
In related news, insider Ilia M. Papas sold 133,334 shares of the stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $0.91, for a total value of $121,333.94. Following the completion of the transaction, the insider now owns 203,024 shares of the company’s stock, valued at $184,751.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 15,000,000 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $1.15, for a total transaction of $17,250,000.00. The disclosure for this sale can be found here. Insiders have sold 15,295,547 shares of company stock valued at $17,550,927 in the last ninety days. 56.24% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of APRN. FMR LLC acquired a new position in Blue Apron in the third quarter worth about $3,431,000. Baillie Gifford & Co. acquired a new position in Blue Apron in the third quarter worth about $2,259,000. River & Mercantile Asset Management LLP raised its position in Blue Apron by 25.3% in the fourth quarter. River & Mercantile Asset Management LLP now owns 5,205,981 shares of the company’s stock worth $5,388,000 after purchasing an additional 1,052,592 shares in the last quarter. RBF Capital LLC acquired a new position in Blue Apron in the fourth quarter worth about $505,000. Finally, Two Sigma Investments LP acquired a new position in Blue Apron in the fourth quarter worth about $297,000. 10.69% of the stock is owned by hedge funds and other institutional investors.
About Blue Apron
Blue Apron Holdings, Inc operates an e-commerce marketplace that delivers original recipes and fresh ingredients for making home cooking accessible. It provides original recipes with the pre-portioned ingredients to complement tastes and lifestyles of college graduates, young couples, families, singles, and empty nesters.
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