Blue Apron Holdings Inc (APRN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Blue Apron Holdings Inc (NASDAQ:APRN) from a hold rating to a sell rating in a research note issued to investors on Tuesday, October 17th.

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 analysts have also recently commented on the stock. Guggenheim began coverage on shares of Blue Apron Holdings in a research report on Monday, September 25th. They set a buy rating and a $9.00 target price for the company. KeyCorp reiterated a sector weight rating on shares of Blue Apron Holdings in a research report on Monday, September 18th. Canaccord Genuity restated a buy rating and issued a $11.00 price objective on shares of Blue Apron Holdings in a research report on Thursday, September 14th. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Blue Apron Holdings in a research report on Monday, August 21st. Finally, CIBC restated a market perform rating on shares of Blue Apron Holdings in a research report on Monday, August 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Blue Apron Holdings has a consensus rating of Hold and a consensus target price of $7.12.

Shares of Blue Apron Holdings (NASDAQ APRN) traded up $0.09 during trading on Tuesday, hitting $3.88. 2,043,445 shares of the company’s stock traded hands, compared to its average volume of 2,130,000. Blue Apron Holdings has a 52 week low of $3.56 and a 52 week high of $11.00.

Blue Apron Holdings (NASDAQ:APRN) last issued its earnings results on Thursday, November 2nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate of $191.47 million. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) EPS.

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A number of hedge funds and other institutional investors have recently made changes to their positions in APRN. Russell Investments Group Ltd. acquired a new position in Blue Apron Holdings in the 2nd quarter worth $464,000. DekaBank Deutsche Girozentrale acquired a new position in Blue Apron Holdings in the 2nd quarter worth $220,000. Obermeyer Wood Investment Counsel Lllp acquired a new position in Blue Apron Holdings in the 2nd quarter worth $110,000. LMR Partners LLP acquired a new position in Blue Apron Holdings in the 2nd quarter worth $2,195,000. Finally, SG Americas Securities LLC acquired a new position in Blue Apron Holdings in the 2nd quarter worth $264,000.

Blue Apron Holdings 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.

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Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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