Zacks Investment Research cut shares of Blue Apron (NYSE:APRN) from a buy rating to a hold rating in a research report sent to investors on Wednesday 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. “
Several other research analysts also recently weighed in on the company. ValuEngine downgraded Blue Apron from a buy rating to a hold rating in a report on Friday, January 25th. Guggenheim downgraded Blue Apron from a buy rating to a neutral rating and set a $1.02 price target for the company. in a report on Thursday, November 15th. Canaccord Genuity downgraded Blue Apron from a buy rating to a hold rating and cut their price target for the company from $6.00 to $3.00 in a report on Wednesday, November 14th. Barclays cut their price target on Blue Apron from $2.50 to $1.25 and set an equal weight rating for the company in a report on Thursday, November 15th. Finally, Stifel Nicolaus cut their price target on Blue Apron from $2.00 to $1.50 and set a hold rating for the company in a report on Thursday, November 15th. Ten research analysts have rated the stock with a hold rating, Blue Apron currently has an average rating of Hold and a consensus price target of $1.79.
APRN opened at $1.08 on Wednesday. Blue Apron has a 52 week low of $0.65 and a 52 week high of $4.15. The firm has a market cap of $282.87 million, a PE ratio of -1.71 and a beta of 1.18. The company has a quick ratio of 1.38, a current ratio of 1.65 and a debt-to-equity ratio of 0.60.
Blue Apron (NYSE:APRN) last released its quarterly earnings results on Wednesday, January 30th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $140.73 million during the quarter, compared to analyst estimates of $137.81 million. Blue Apron had a negative return on equity of 72.42% and a negative net margin of 18.30%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. Equities research analysts predict that Blue Apron will post -0.35 earnings per share for the current fiscal year.
In other news, major shareholder Bessemer Venture Partners Viii sold 15,000,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $1.15, for a total transaction of $17,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ilia M. Papas sold 133,333 shares of the business’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $1.09, for a total transaction of $145,332.97. Following the sale, the insider now directly owns 203,023 shares of the company’s stock, valued at $221,295.07. The disclosure for this sale can be found here. Insiders have sold a total of 15,295,547 shares of company stock valued at $17,550,927 over the last three months. Corporate insiders own 56.24% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. bought a new position in Blue Apron in the 3rd quarter valued at approximately $2,259,000. FMR LLC bought a new position in shares of Blue Apron in the third quarter valued at approximately $3,431,000. Blair William & Co. IL boosted its holdings in shares of Blue Apron by 7.7% in the third quarter. Blair William & Co. IL now owns 1,162,095 shares of the company’s stock valued at $1,999,000 after acquiring an additional 82,900 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Blue Apron by 216.9% in the third quarter. Raymond James Trust N.A. now owns 150,451 shares of the company’s stock valued at $259,000 after acquiring an additional 102,982 shares in the last quarter. Finally, River & Mercantile Asset Management LLP boosted its holdings in shares of Blue Apron by 3.2% in the third quarter. River & Mercantile Asset Management LLP now owns 4,153,389 shares of the company’s stock valued at $7,123,000 after acquiring an additional 127,976 shares in the last quarter. 10.69% of the stock is owned by institutional investors.
Blue Apron Company Profile
Blue Apron Holdings, Inc operates an e-commerce marketplace that delivers original recipes and fresh ingredients for making home cooking accessible. It provides original recipes with the pre-portioned ingredients to complement tastes and lifestyles of college graduates, young couples, families, singles, and empty nesters.
Further Reading: Balance Sheet
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