Blue Apron (APRN) Given “Hold” Rating at Royal Bank of Canada

Royal Bank of Canada restated their hold rating on shares of Blue Apron (NYSE:APRN) in a report released on Wednesday morning. Royal Bank of Canada currently has a $4.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price target (down from $6.50) on shares of Blue Apron in a research note on Friday, November 3rd. Zacks Investment Research cut shares of Blue Apron from a hold rating to a sell rating in a research note on Tuesday, October 17th. SunTrust Banks reaffirmed a hold rating and set a $5.50 price target on shares of Blue Apron in a research note on Tuesday, October 24th. KeyCorp reaffirmed a hold rating on shares of Blue Apron in a research note on Friday, December 1st. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $6.00 price target on shares of Blue Apron in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Blue Apron has an average rating of Hold and a consensus target price of $6.61.

Shares of Blue Apron (APRN) traded down $0.03 during trading hours on Wednesday, hitting $3.44. 363,612 shares of the company’s stock were exchanged, compared to its average volume of 2,585,480. Blue Apron has a 1-year low of $2.94 and a 1-year high of $11.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 2.73.

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

In related news, major shareholder First Round Capital Iv Partner sold 65,728 shares of Blue Apron stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $3.03, for a total transaction of $199,155.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy J. Smith acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average price of $3.89 per share, with a total value of $97,250.00. Following the acquisition, the senior vice president now directly owns 28,386 shares in the company, valued at $110,421.54. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 245,000 shares of company stock valued at $959,450 and have sold 257,756 shares valued at $782,943.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Blue Apron during the 3rd quarter valued at about $120,000. Royal Bank of Canada bought a new stake in Blue Apron during the 2nd quarter valued at about $141,000. BBR Partners LLC bought a new stake in shares of Blue Apron in the 3rd quarter valued at about $147,000. BlueCrest Capital Management Ltd bought a new stake in shares of Blue Apron in the 2nd quarter valued at about $280,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Blue Apron by 3,473.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock valued at $310,000 after purchasing an additional 79,157 shares in the last quarter. Institutional investors own 58.74% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Blue Apron (APRN) Given “Hold” Rating at Royal Bank of Canada” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.chaffeybreeze.com/2018/02/15/blue-apron-aprn-given-hold-rating-at-royal-bank-of-canada.html.

Blue Apron Company Profile

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)

Receive News & Ratings for Blue Apron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Apron and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply