Citigroup Trims Blue Apron (NYSE:APRN) Target Price to $8.00

Blue Apron (NYSE:APRN) had its price target trimmed by Citigroup from $18.00 to $8.00 in a research note published on Thursday, 24/7 WallStreet reports. The firm currently has a neutral rating on the stock.

APRN has been the subject of a number of other research reports. SunTrust Banks reaffirmed a hold rating and set a $25.50 target price on shares of Blue Apron in a report on Sunday, April 7th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average price target of $23.01.

NYSE:APRN opened at $7.74 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.21 and a quick ratio of 1.69. The business’s fifty day moving average is $4.00. The firm has a market capitalization of $100.70 million, a PE ratio of -0.82 and a beta of 0.92. Blue Apron has a fifty-two week low of $6.10 and a fifty-two week high of $62.25.

Blue Apron (NYSE:APRN) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.45) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.90) by $0.45. Blue Apron had a negative net margin of 15.63% and a negative return on equity of 70.16%. The company had revenue of $141.89 million during the quarter, compared to analysts’ expectations of $149.79 million. During the same period in the prior year, the business posted ($2.55) earnings per share. The firm’s revenue for the quarter was down 27.9% on a year-over-year basis. Equities research analysts predict that Blue Apron will post -4.05 earnings per share for the current year.

In related news, CEO Linda F. Kozlowski sold 45,689 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $0.69, for a total value of $31,525.41. Following the completion of the sale, the chief executive officer now owns 98,143 shares of the company’s stock, valued at $67,718.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Bensley sold 44,055 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $0.69, for a total transaction of $30,397.95. Following the completion of the sale, the chief financial officer now directly owns 82,226 shares of the company’s stock, valued at approximately $56,735.94. The disclosure for this sale can be found here. Insiders sold 103,928 shares of company stock valued at $71,710 in the last three months. 56.24% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in APRN. Bank of New York Mellon Corp increased its stake in shares of Blue Apron by 373.6% in the 4th quarter. Bank of New York Mellon Corp now owns 100,904 shares of the company’s stock valued at $103,000 after buying an additional 79,600 shares during the period. Geode Capital Management LLC increased its stake in shares of Blue Apron by 94.5% in the 4th quarter. Geode Capital Management LLC now owns 545,215 shares of the company’s stock valued at $556,000 after buying an additional 264,970 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Blue Apron in the 4th quarter valued at $297,000. RBF Capital LLC acquired a new stake in shares of Blue Apron in the 4th quarter valued at $505,000. Finally, Paloma Partners Management Co increased its stake in shares of Blue Apron by 160.8% in the 4th quarter. Paloma Partners Management Co now owns 33,639 shares of the company’s stock valued at $34,000 after buying an additional 20,739 shares during the period.

Blue Apron Company Profile

Blue Apron Holdings, Inc operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides cooking tools, utensils, and pantry items. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals; and supplies poultry, beef, and lamb.

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Analyst Recommendations for Blue Apron (NYSE:APRN)

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