Blue Apron (APRN) Stock Rating Upgraded by Northcoast Research

Northcoast Research upgraded shares of Blue Apron (NYSE:APRN) from a sell rating to a neutral rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $3.31 target price on the stock, down from their prior target price of $3.43.

APRN has been the topic of several other reports. Needham & Company LLC reissued a buy rating and issued a $5.00 price target (down from $6.50) on shares of Blue Apron in a research note on Friday, November 3rd. SunTrust Banks reissued a hold rating and issued a $5.50 price target on shares of Blue Apron in a research note on Tuesday, October 24th. KeyCorp reissued a hold rating on shares of Blue Apron in a research note on Friday, December 1st. Morgan Stanley lowered their target price on Blue Apron from $4.70 to $4.50 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada lowered Blue Apron from an outperform rating to a sector perform rating and lowered their target price for the stock from $6.00 to $4.00 in a research report on Friday, December 1st. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Blue Apron has an average rating of Hold and a consensus target price of $6.70.

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Blue Apron (NYSE:APRN) opened at $3.56 on Friday. Blue Apron has a 12 month low of $2.94 and a 12 month high of $11.00. The company has a quick ratio of 2.73, a current ratio of 3.15 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $676.58 and a P/E ratio of -3.18.

Blue Apron (NYSE:APRN) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.07. The business had revenue of $187.70 million during the quarter, compared to analyst estimates of $186.13 million. During the same period last year, the firm posted ($0.39) earnings per share. Blue Apron’s quarterly revenue was down 13.1% compared to the same quarter last year. equities research analysts anticipate that Blue Apron will post -0.74 EPS for the current year.

In related news, CEO Brad Dickerson purchased 180,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $707,400.00. Following the completion of the acquisition, the chief executive officer now owns 40,000 shares of the company’s stock, valued at approximately $157,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder First Round Capital Iv Partner sold 65,728 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $3.03, for a total value of $199,155.84. The disclosure for this sale can be found here. Insiders have bought 245,000 shares of company stock worth $959,450 over the last ninety days.

A number of institutional investors have recently made changes to their positions in APRN. River & Mercantile Asset Management LLP grew its holdings in Blue Apron by 113.9% during the fourth quarter. River & Mercantile Asset Management LLP now owns 2,222,005 shares of the company’s stock worth $8,966,000 after buying an additional 1,183,136 shares in the last quarter. Armistice Capital LLC bought a new stake in Blue Apron during the fourth quarter worth $4,030,000. Goldman Sachs Group Inc. bought a new stake in Blue Apron during the second quarter worth $6,239,000. Vanguard Group Inc. bought a new stake in Blue Apron during the second quarter worth $4,892,000. Finally, Westpac Banking Corp grew its holdings in Blue Apron by 170.2% during the fourth quarter. Westpac Banking Corp now owns 576,324 shares of the company’s stock worth $2,323,000 after buying an additional 363,044 shares in the last quarter. Institutional investors and hedge funds own 75.11% 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.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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