Blue Apron Holdings’ (APRN) Outperform Rating Reiterated at Royal Bank Of Canada

Blue Apron Holdings, Inc. (NYSE:APRN)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a report released on Friday, November 3rd, Marketbeat reports. They currently have a $6.00 price target on the stock, down from their previous price target of $8.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 102.02% from the stock’s previous close.

Several other research firms have also recently issued reports on APRN. Barclays PLC decreased their price objective on shares of Blue Apron Holdings from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 11th. SunTrust Banks, Inc. cut shares of Blue Apron Holdings from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $5.50 in a research report on Friday, August 11th. Oppenheimer Holdings, Inc. cut shares of Blue Apron Holdings from an “outperform” rating to a “market perform” rating and set a $11.00 price target for the company. in a research report on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $6.50 price target (down from $10.00) on shares of Blue Apron Holdings in a research report on Friday, August 11th. Finally, Citigroup Inc. cut shares of Blue Apron Holdings from a “buy” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $5.50 in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Blue Apron Holdings currently has an average rating of “Hold” and an average price target of $7.12.

Shares of Blue Apron Holdings (APRN) opened at $2.97 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.73 and a debt-to-equity ratio of 0.48. Blue Apron Holdings has a 1-year low of $2.94 and a 1-year high of $11.00.

Blue Apron Holdings (NYSE:APRN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.04). The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $191.47 million. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. analysts expect that Blue Apron Holdings will post -1.65 earnings per share for the current fiscal year.

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In related news, major shareholder First Round Capital Iv, L.P. sold 77,647 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $3.13, for a total transaction of $243,035.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder First Round Capital Iv Partner sold 189,819 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $3.04, for a total transaction of $577,049.76. The disclosure for this sale can be found here. Insiders have sold 1,942,522 shares of company stock worth $6,241,031 over the last 90 days.

A number of large investors have recently bought and sold shares of APRN. FMR LLC purchased a new position in Blue Apron Holdings during the second quarter worth approximately $42,090,000. Capital World Investors purchased a new position in Blue Apron Holdings during the second quarter worth approximately $36,476,000. JPMorgan Chase & Co. purchased a new position in Blue Apron Holdings during the second quarter worth approximately $31,439,000. Victory Capital Management Inc. acquired a new stake in shares of Blue Apron Holdings in the second quarter worth $14,010,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Blue Apron Holdings in the second quarter worth $10,274,000. 92.53% of the stock is currently owned by institutional investors.

About Blue Apron Holdings

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 Holdings (NYSE:APRN)

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