Cowen Cuts GrubHub (NYSE:GRUB) Price Target to $86.00

GrubHub (NYSE:GRUB) had its price target lowered by Cowen from $91.00 to $86.00 in a research note published on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of GrubHub from $72.00 to $68.00 and set an equal weight rating for the company in a research report on Wednesday, July 31st. JMP Securities dropped their target price on shares of GrubHub to $95.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a hold rating on shares of GrubHub in a research report on Thursday, July 11th. Zacks Investment Research cut shares of GrubHub from a hold rating to a sell rating and set a $84.00 target price for the company. in a research report on Wednesday, July 31st. Finally, Wedbush set a $90.00 target price on shares of GrubHub and gave the stock an in-line rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. GrubHub presently has an average rating of Buy and a consensus price target of $95.45.

Shares of GRUB stock traded down $0.34 during mid-day trading on Tuesday, reaching $66.76. The company’s stock had a trading volume of 16,771 shares, compared to its average volume of 1,784,107. The company has a market cap of $5.87 billion, a P/E ratio of 54.13, a PEG ratio of 3.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.42 and a current ratio of 2.42. The firm’s 50-day moving average is $64.11 and its two-hundred day moving average is $69.11. GrubHub has a 1-year low of $55.61 and a 1-year high of $149.35.

GrubHub (NYSE:GRUB) last announced its earnings results on Tuesday, July 30th. The information services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The business had revenue of $325.06 million during the quarter, compared to analysts’ expectations of $317.39 million. GrubHub had a net margin of 2.17% and a return on equity of 4.25%. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. Sell-side analysts anticipate that GrubHub will post 0.69 EPS for the current year.

In other news, insider Samuel Pike Hall sold 704 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $57.58, for a total value of $40,536.32. Following the transaction, the insider now owns 2,695 shares of the company’s stock, valued at approximately $155,178.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam Dewitt sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $75.45, for a total transaction of $150,900.00. Following the completion of the transaction, the chief financial officer now directly owns 44,044 shares in the company, valued at approximately $3,323,119.80. The disclosure for this sale can be found here. Insiders sold a total of 27,615 shares of company stock worth $2,002,617 in the last ninety days. Insiders own 1.88% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caledonia Private Investments Pty Ltd boosted its stake in shares of GrubHub by 5.2% in the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 12,309,355 shares of the information services provider’s stock valued at $960,007,000 after purchasing an additional 612,970 shares during the last quarter. Baillie Gifford & Co. boosted its stake in GrubHub by 9.4% during the 2nd quarter. Baillie Gifford & Co. now owns 10,040,807 shares of the information services provider’s stock worth $783,082,000 after acquiring an additional 865,569 shares during the last quarter. Clearbridge Investments LLC boosted its stake in GrubHub by 257.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,028,803 shares of the information services provider’s stock worth $418,821,000 after acquiring an additional 4,342,673 shares during the last quarter. BlackRock Inc. boosted its stake in GrubHub by 1.5% during the 2nd quarter. BlackRock Inc. now owns 4,597,329 shares of the information services provider’s stock worth $358,545,000 after acquiring an additional 68,316 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in GrubHub during the 2nd quarter worth approximately $214,636,000.

GrubHub Company Profile

Grubhub Inc, together with its subsidiaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects approximately 105,000 local restaurants with diners with diners in various cities. It offers Grubhub, Seamless, and Eat24 mobile applications and mobile Websites; and operates Websites through grubhub.com, seamless.com, eat24.com, and menupages.com.

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Analyst Recommendations for GrubHub (NYSE:GRUB)

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