GrubHub Inc (NASDAQ:GRUB) Price Target Raised to $60.00

GrubHub Inc (NASDAQ:GRUB) had its price target raised by research analysts at Stifel Nicolaus from $53.00 to $60.00 in a note issued to investors on Wednesday, October 25th, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Stifel Nicolaus’ price objective indicates a potential downside of 4.91% from the company’s previous close.

GRUB has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $54.93 target price (down from $63.00) on shares of GrubHub in a report on Wednesday, August 23rd. DA Davidson started coverage on GrubHub in a research report on Wednesday, September 13th. They issued a “neutral” rating and a $48.00 price target on the stock. KeyCorp set a $62.00 price target on GrubHub and gave the company a “buy” rating in a research report on Sunday, October 15th. Roth Capital set a $55.00 price target on GrubHub and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Vetr raised GrubHub from a “sell” rating to a “strong-buy” rating and set a $62.06 price target on the stock in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. GrubHub presently has an average rating of “Buy” and a consensus price target of $58.18.

Shares of GrubHub (GRUB) opened at $63.10 on Wednesday. GrubHub has a 12-month low of $32.43 and a 12-month high of $63.16.

GrubHub (NASDAQ:GRUB) last announced its quarterly earnings data on Wednesday, October 25th. The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. GrubHub had a return on equity of 5.01% and a net margin of 7.97%. The business had revenue of $163.10 million during the quarter, compared to analyst estimates of $159.63 million. During the same period last year, the company earned $0.23 earnings per share. GrubHub’s quarterly revenue was up 32.1% compared to the same quarter last year.

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In related news, SVP Margo Drucker sold 1,737 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $56.97, for a total value of $98,956.89. Following the completion of the transaction, the senior vice president now directly owns 892 shares of the company’s stock, valued at approximately $50,817.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Adam Dewitt sold 5,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $51.13, for a total transaction of $255,650.00. Following the sale, the chief financial officer now directly owns 20,114 shares in the company, valued at $1,028,428.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 394,778 shares of company stock valued at $22,544,555.

A number of large investors have recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in shares of GrubHub by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 14,125 shares of the information services provider’s stock valued at $616,000 after purchasing an additional 36 shares during the period. Renaissance Group LLC grew its position in shares of GrubHub by 0.9% during the 2nd quarter. Renaissance Group LLC now owns 8,856 shares of the information services provider’s stock worth $386,000 after purchasing an additional 80 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of GrubHub by 6.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,453 shares of the information services provider’s stock worth $108,000 after purchasing an additional 148 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of GrubHub by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the information services provider’s stock worth $120,000 after purchasing an additional 285 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of GrubHub by 8.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,544 shares of the information services provider’s stock worth $329,000 after acquiring an additional 567 shares in the last quarter.

About GrubHub

Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.

Analyst Recommendations for GrubHub (NASDAQ:GRUB)

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