GrubHub Inc (NASDAQ:GRUB)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report released on Thursday. They presently have a $47.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 23.20% from the company’s previous close.
In other GrubHub news, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $28.33, for a total transaction of $141,650.00. Following the completion of the transaction, the chief financial officer now owns 5,500 shares in the company, valued at $155,815. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin C. Spero sold 500,000 shares of GrubHub stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $24.54, for a total transaction of $12,270,000.00. The disclosure for this sale can be found here.
Shares of GrubHub (NASDAQ:GRUB) traded up 24.11% during mid-day trading on Thursday, reaching $38.15. 14,298,252 shares of the company traded hands. The company has a market capitalization of $3.23 billion and a P/E ratio of 86.70. The stock’s 50-day moving average is $30.41 and its 200-day moving average is $25.25. GrubHub has a 52 week low of $17.77 and a 52 week high of $39.29.
Other institutional investors have made changes to their positions in the company. Pelham Capital Ltd. boosted its position in shares of GrubHub by 30.9% in the first quarter. Pelham Capital Ltd. now owns 5,765,452 shares of the company’s stock worth $144,886,000 after buying an additional 1,361,200 shares during the last quarter. Morgan Stanley boosted its position in shares of GrubHub by 48.2% in the fourth quarter. Morgan Stanley now owns 5,549,598 shares of the company’s stock worth $134,300,000 after buying an additional 1,804,355 shares during the last quarter. SRS Investment Management LLC acquired a new position in shares of GrubHub during the fourth quarter worth about $60,500,000. Norges Bank acquired a new position in shares of GrubHub during the fourth quarter worth about $53,590,000. Finally, JPMorgan Chase & Co. boosted its position in shares of GrubHub by 7.7% in the first quarter. JPMorgan Chase & Co. now owns 2,118,953 shares of the company’s stock worth $53,250,000 after buying an additional 151,844 shares during the last quarter.
Several other research firms have also recently commented on GRUB. Cowen and Company restated a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of GrubHub in a research note on Wednesday. Mizuho restated a “buy” rating and issued a $33.00 target price on shares of GrubHub in a research note on Wednesday. Zacks Investment Research upgraded shares of GrubHub from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, July 13th. Citigroup Inc. restated a “buy” rating on shares of GrubHub in a research note on Wednesday, June 29th. Finally, Monness Crespi & Hardt upgraded shares of GrubHub from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, June 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GrubHub has an average rating of “Buy” and an average price target of $32.75.
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
