CommerceHub (CHUBA) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of CommerceHub (NASDAQ:CHUBA) from a buy rating to a hold rating in a research note published on Friday morning.

According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “

Several other research analysts have also commented on the company. First Analysis assumed coverage on CommerceHub in a research report on Friday, August 25th. They issued an overweight rating and a $25.00 price target for the company. DA Davidson assumed coverage on CommerceHub in a research report on Friday, September 22nd. They issued a buy rating and a $27.00 price target for the company. Dougherty & Co assumed coverage on CommerceHub in a research report on Tuesday, October 31st. They issued a buy rating and a $27.00 price target for the company. Finally, Wedbush reissued an outperform rating and issued a $26.00 price target (up from $22.00) on shares of CommerceHub in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. CommerceHub currently has an average rating of Buy and an average target price of $25.80.

CommerceHub (CHUBA) traded down $0.06 on Friday, reaching $22.80. The company had a trading volume of 143,600 shares, compared to its average volume of 88,891. CommerceHub has a one year low of $13.74 and a one year high of $24.53. The stock has a market cap of $987.58 and a PE ratio of 76.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in CommerceHub during the second quarter worth $28,465,000. Vanguard Group Inc. purchased a new position in shares of CommerceHub during the second quarter worth $18,087,000. Neuberger Berman Group LLC purchased a new position in shares of CommerceHub during the third quarter worth $11,072,000. Employees Retirement System of Texas purchased a new position in shares of CommerceHub during the second quarter worth $7,090,000. Finally, Franklin Resources Inc. purchased a new position in shares of CommerceHub during the second quarter worth $5,803,000. Institutional investors and hedge funds own 28.98% of the company’s stock.

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About CommerceHub

CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.

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