Blue Apron (APRN) Earns “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of Blue Apron (NYSE:APRN) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. They currently have a $4.00 price objective on the stock, down from their prior price objective of $6.00.

APRN has been the topic of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $5.00 price target (down previously from $6.50) on shares of Blue Apron in a report on Friday, November 3rd. Zacks Investment Research downgraded Blue Apron from a hold rating to a sell rating in a report on Tuesday, October 17th. SunTrust Banks reiterated a hold rating and set a $5.50 price target on shares of Blue Apron in a report on Tuesday, October 24th. KeyCorp reiterated a hold rating on shares of Blue Apron in a report on Friday, December 1st. Finally, Royal Bank of Canada cut Blue Apron from an outperform rating to a sector perform rating and reduced their price objective for the company from $6.00 to $4.00 in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $6.61.

Shares of Blue Apron (NYSE APRN) traded down $0.13 during midday trading on Wednesday, hitting $3.34. The company had a trading volume of 1,253,809 shares, compared to its average volume of 2,592,957. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.73 and a current ratio of 3.15. Blue Apron has a twelve month low of $2.94 and a twelve month high of $11.00.

Blue Apron (NYSE:APRN) last issued its earnings results on Tuesday, February 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.07. The company had revenue of $187.70 million during the quarter, compared to analyst estimates of $186.13 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The business’s revenue was down 13.1% compared to the same quarter last year. research analysts expect that Blue Apron will post -0.84 EPS for the current fiscal year.

In other Blue Apron news, major shareholder First Round Capital Iv Partner sold 189,819 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $3.04, for a total value of $577,049.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brad Dickerson purchased 180,000 shares of Blue Apron stock in a transaction on Wednesday, December 13th. The stock was bought at an average cost of $3.93 per share, with a total value of $707,400.00. Following the transaction, the chief executive officer now directly owns 40,000 shares of the company’s stock, valued at $157,200. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 245,000 shares of company stock valued at $959,450 and have sold 257,756 shares valued at $782,943.

Several large investors have recently made changes to their positions in APRN. FMR LLC acquired a new position in shares of Blue Apron during the 2nd quarter worth about $42,090,000. River & Mercantile Asset Management LLP lifted its position 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 worth $8,966,000 after purchasing an additional 1,183,136 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Blue Apron during the 4th quarter worth about $4,030,000. Goldman Sachs Group Inc. acquired a new position in shares of Blue Apron during the 2nd quarter worth about $6,239,000. Finally, Westpac Banking Corp lifted its position 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 worth $2,323,000 after purchasing an additional 363,044 shares during the last quarter. 58.74% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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