Blue Apron Holdings Inc (APRN) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Blue Apron Holdings Inc (NASDAQ:APRN) from a sell rating to a hold rating in a report issued on Monday morning.

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. “

APRN has been the topic of several other reports. Citigroup Inc. lowered shares of Blue Apron Holdings from a buy rating to a neutral rating and decreased their price objective for the stock from $10.00 to $5.50 in a report on Friday, August 11th. CIBC assumed coverage on shares of Blue Apron Holdings in a report on Monday, July 24th. They issued an outperform rating and a $11.00 price objective on the stock. Northcoast Research assumed coverage on shares of Blue Apron Holdings in a report on Tuesday, July 11th. They issued a sell rating and a $2.00 price objective on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Blue Apron Holdings in a report on Monday, July 24th. They issued a buy rating and a $11.00 price objective on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Blue Apron Holdings from $8.00 to $10.00 and gave the stock an outperform rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $7.77.

Shares of Blue Apron Holdings (NASDAQ:APRN) opened at 5.59 on Monday. Blue Apron Holdings has a 1-year low of $5.00 and a 1-year high of $11.00. The company’s market cap is $167.94 million. The stock’s 50 day moving average is $5.53 and its 200 day moving average is $6.30.

Blue Apron Holdings (NASDAQ:APRN) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The firm had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $235.78 million. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts predict that Blue Apron Holdings will post ($1.60) earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $31,439,000. DekaBank Deutsche Girozentrale acquired a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $220,000. Victory Capital Management Inc. acquired a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $14,010,000. Oak Ridge Investments LLC acquired a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $934,000. Finally, Zevenbergen Capital Investments LLC acquired a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $577,000.

About Blue Apron Holdings

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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Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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