Canaccord Genuity Reiterates Buy Rating for GrubHub (GRUB)

GrubHub (NYSE:GRUB)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a report issued on Tuesday. They presently have a $80.00 price objective on the information services provider’s stock. Canaccord Genuity’s price objective indicates a potential upside of 11.42% from the stock’s current price.

Several other equities analysts also recently commented on the stock. KeyCorp set a $80.00 price target on shares of GrubHub and gave the company a “buy” rating in a research note on Monday, December 11th. Cowen restated an “outperform” rating and issued a $78.00 price target (up from $65.00) on shares of GrubHub in a research note on Friday, December 1st. Craig Hallum restated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of GrubHub in a research note on Tuesday, November 21st. Zacks Investment Research downgraded shares of GrubHub from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, DA Davidson restated a “hold” rating and issued a $50.00 price target (up from $48.00) on shares of GrubHub in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.48.

Shares of GrubHub (GRUB) traded down $0.39 on Tuesday, hitting $71.80. 871,100 shares of the stock traded hands, compared to its average volume of 1,920,303. The company has a market capitalization of $6,224.67, a price-to-earnings ratio of 105.59, a PEG ratio of 3.94 and a beta of 1.67. GrubHub has a 52 week low of $32.43 and a 52 week high of $74.81.

GrubHub (NYSE:GRUB) last released its quarterly earnings results on Wednesday, October 25th. The information services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. GrubHub had a net margin of 9.60% and a return on equity of 7.45%. The business had revenue of $163.10 million for the quarter, compared to the consensus estimate of $159.63 million. During the same period in the prior year, the company posted $0.23 earnings per share. GrubHub’s revenue was up 32.1% compared to the same quarter last year. analysts anticipate that GrubHub will post 0.89 earnings per share for the current fiscal year.

In other news, CEO Matthew M. Maloney sold 59,880 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $55.75, for a total value of $3,338,310.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Stanley Chia sold 645 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $60.60, for a total transaction of $39,087.00. Following the completion of the sale, the chief operating officer now owns 1,215 shares in the company, valued at $73,629. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,792 shares of company stock worth $19,286,288. 2.37% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GRUB. Carmignac Gestion raised its holdings in GrubHub by 55.4% in the 2nd quarter. Carmignac Gestion now owns 4,976,545 shares of the information services provider’s stock valued at $216,977,000 after buying an additional 1,773,959 shares during the last quarter. Fiera Capital Corp bought a new position in GrubHub in the 2nd quarter valued at approximately $40,593,000. Caledonia Private Investments Pty Ltd raised its holdings in GrubHub by 8.0% in the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 10,702,879 shares of the information services provider’s stock valued at $563,614,000 after buying an additional 790,969 shares during the last quarter. Janus Henderson Group PLC bought a new position in GrubHub in the 2nd quarter valued at approximately $28,875,000. Finally, Sylebra HK Co Ltd bought a new position in GrubHub in the 2nd quarter valued at approximately $27,341,000.

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About GrubHub

Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.

Analyst Recommendations for GrubHub (NYSE:GRUB)

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