Blue Apron (APRN) Lifted to Equal Weight at Barclays

Barclays upgraded shares of Blue Apron (NYSE:APRN) from an underweight rating to an equal weight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Barclays currently has $4.00 price objective on the stock, up from their prior price objective of $3.00.

Several other equities research analysts also recently commented on APRN. SunTrust Banks downgraded shares of Blue Apron from a buy rating to a hold rating and cut their target price for the stock from $12.00 to $5.50 in a research report on Friday, August 11th. Oppenheimer downgraded shares of Blue Apron from an outperform rating to a market perform rating and set a $11.00 target price on the stock. in a research report on Friday, August 11th. Needham & Company LLC restated a buy rating and issued a $6.50 price target (down previously from $10.00) on shares of Blue Apron in a research report on Friday, August 11th. Citigroup downgraded shares of Blue Apron from a buy rating to a neutral rating and dropped their price target for the stock from $10.00 to $5.50 in a research report on Friday, August 11th. Finally, Stifel Nicolaus restated a buy rating and issued a $8.00 price target (down previously from $10.00) on shares of Blue Apron in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $7.04.

Shares of Blue Apron (APRN) opened at $3.74 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 2.73. Blue Apron has a 1 year low of $2.94 and a 1 year high of $11.00.

Blue Apron (NYSE:APRN) last posted 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 company had revenue of $210.60 million for the quarter, compared to analyst estimates of $191.47 million. During the same quarter in the previous year, the company posted ($0.56) EPS. Blue Apron’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts forecast that Blue Apron will post -1.66 earnings per share for the current year.

In other news, major shareholder First Round Capital Iv Partner sold 104,139 shares of Blue Apron stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $3.08, for a total value of $320,748.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of Blue Apron stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $3.26, for a total transaction of $4,761,018.10. The disclosure for this sale can be found here. Insiders sold a total of 2,010,459 shares of company stock worth $6,446,924 in the last 90 days.

Large investors have recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp bought a new stake in shares of Blue Apron in the 2nd quarter valued at $110,000. Royal Bank of Canada bought a new stake in shares of Blue Apron in the 2nd quarter valued at $141,000. Legal & General Group Plc bought a new stake in shares of Blue Apron in the 2nd quarter valued at $187,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Blue Apron in the 2nd quarter valued at $220,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Blue Apron in the 3rd quarter valued at $120,000. Institutional investors own 58.35% of the company’s stock.

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Blue Apron 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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