ValuEngine Upgrades Blue Apron (NYSE:APRN) to “Strong-Buy”

ValuEngine upgraded shares of Blue Apron (NYSE:APRN) from a buy rating to a strong-buy rating in a research report released on Wednesday, ValuEngine reports.

Separately, Citigroup cut their target price on shares of Blue Apron from $18.00 to $8.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $22.51.

NYSE:APRN traded down $0.25 during trading hours on Wednesday, reaching $9.02. The company’s stock had a trading volume of 208,093 shares, compared to its average volume of 531,193. The company has a market cap of $118.03 million, a price-to-earnings ratio of -0.95 and a beta of 1.10. Blue Apron has a one year low of $6.10 and a one year high of $24.60. The business’s 50-day moving average is $7.96 and its 200-day moving average is $4.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.33 and a quick ratio of 1.76.

Blue Apron (NYSE:APRN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.08) by $0.49. The firm had revenue of $119.20 million during the quarter, compared to analysts’ expectations of $138.13 million. Blue Apron had a negative net margin of 12.79% and a negative return on equity of 57.90%. Blue Apron’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, sell-side analysts predict that Blue Apron will post -4.59 EPS for the current fiscal year.

In other Blue Apron news, insider Linda F. Kozlowski sold 4,674 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $7.14, for a total transaction of $33,372.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 8,409 shares of company stock valued at $60,040. Company insiders own 40.83% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Blue Apron during the 2nd quarter worth $75,000. Parametric Portfolio Associates LLC acquired a new position in shares of Blue Apron during the second quarter valued at about $579,000. Finally, Tenzing Global Management LLC acquired a new position in shares of Blue Apron during the second quarter valued at about $1,774,000. 16.22% of the stock is owned by hedge funds and other institutional investors.

About Blue Apron

Blue Apron Holdings, Inc operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides cooking tools, utensils, and pantry items. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals; and supplies poultry, beef, and lamb.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blue Apron (NYSE:APRN)

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