CommerceHub (NASDAQ:CHUBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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 brokerages also recently weighed in on CHUBA. DA Davidson started coverage on CommerceHub in a research note on Friday, September 22nd. They set a “buy” rating and a $27.00 target price on the stock. Wedbush restated an “outperform” rating and set a $26.00 target price (up from $22.00) on shares of CommerceHub in a research note on Monday, October 2nd. Dougherty & Co started coverage on CommerceHub in a research note on Tuesday, October 31st. They set a “buy” rating and a $27.00 target price on the stock. Oppenheimer started coverage on CommerceHub in a research note on Friday, December 22nd. They set a “market perform” rating on the stock. Finally, CIBC started coverage on CommerceHub in a research note on Friday, December 22nd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. CommerceHub currently has an average rating of “Hold” and a consensus price target of $26.17.
CommerceHub (NASDAQ CHUBA) remained flat at $$21.06 on Wednesday. The company’s stock had a trading volume of 195,662 shares, compared to its average volume of 144,271. The stock has a market capitalization of $868.11 and a P/E ratio of 72.62. CommerceHub has a 12 month low of $13.74 and a 12 month high of $24.53.
Institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors purchased a new stake in shares of CommerceHub in the second quarter worth about $137,000. Hosking Partners LLP purchased a new stake in shares of CommerceHub in the third quarter worth about $217,000. Diligent Investors LLC purchased a new stake in shares of CommerceHub in the third quarter worth about $223,000. Citadel Advisors LLC purchased a new stake in shares of CommerceHub in the third quarter worth about $270,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of CommerceHub in the second quarter worth about $256,000. Hedge funds and other institutional investors own 28.98% of the company’s stock.
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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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