Mizuho Just Issued " Neutral" Rating on GrubHub Inc (GRUB)
- Author: Zachary Reyes Feb 10, 2017,
Feb 10, 2017, 0:46
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. raised its stake in GrubHub by 259.9% in the third quarter.
Shares of the company, which faces competition from Amazon.com Inc's Prime Now, Yelp Inc's Eat24 and Uber'sUberEATS, fell as much as 9.2 percent to $37.50 on Wednesday.
At the movement GrubHub Inc. Schwab Charles Investment Management Inc. now owns 282,807 shares of the company's stock valued at $8,787,000 after buying an additional 16,010 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of GrubHub during the third quarter valued at approximately $678,000. (NYSE:GRUB), the current mean is sitting at 2.13. The firm's 50-day moving average price is $39.08 and its 200 day moving average price is $39.07. The stock has a market capitalization of $3.36 billion and a price-to-earnings ratio of 71.40. GrubHub Inc. P/E (price to earnings) ratio is 72.6 and Forward P/E ratio of 34.66. The company, which faces competition from Amazon.com Inc's Prime Now, Yelp Inc's Eat24 and Uber's UberEATS, reported a rise in quarterly net income to $13.6 million, or 16 cents per share, in the fourth quarter ended December 31, from $11.3 million, or 13 cents per share, a year earlier.
Revenues: $137.5 million, a 38% year-over-year increase from $100.0 million in the fourth quarter of 2015.
The stock has given up most of its outperformance of the broader market from the last three months; shares increased 9% since reporting third-quarter results October 26, vs. the S&P 500's 7% improvement over that time frame. The company had revenue of $137.50 million for the quarter, compared to analysts expectations of $137.76 million. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.25 to $0.31. The Companys products include GrubHub and seamless Websites GrubHub and seamless mobile applications and mobile Website seamless corporate program allmenus and menupages orderhub and boost restaurant Websites and delivery. Credit Suisse Group assumed coverage on GrubHub in a research note on Wednesday. The high end target price has shares touching $48 and the low end target estimate has the stock moving to $32 within the year.
Fortinet, Inc. (NASDAQ:FTNT) [Trend Analysis] moved down reacts as active mover, shares a decrease -0.90% to traded at $37.42 and the percentage gap between open changing to regular change was -0.16%. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. The stock now has a consensus rating of "Buy" and an average price target of $42.68.
In other news, insider Barbara Martin Coppola sold 17,499 shares of the business's stock in a transaction that occurred on Tuesday, January 3rd. According to the SEC, on Feb 3, 2017, Margo Drucker (SVP, Secretary, Gen Counsel) sold 1,756 shares at $41.69 per share price. (NYSE:GRUB), according to U.S. Securities and Exchange Commission (SEC) filings. Insiders have sold a total of 76,505 shares of company stock worth $2,839,070 in the last ninety days. The stock presently has a consensus rating of "Buy" and a consensus target price of $42.68. Following the completion of the transaction, the senior vice president now owns 1,554 shares of the company's stock, valued at $56,907.48.