Blue Apron (NYSE:APRN) Rating Lowered to Hold at Zacks Investment Research

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Blue Apron (NYSE:APRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Blue Apron Holdings, Inc. provides recipes and fresh ingredients for making home cooking accessible. It product consists of Blue Apron Meals, Blue Apron Wine, the Blue Apron Market and BN Ranch, a premium supplier of grass-fed beef and pasture-raised poultry. Blue Apron Holdings, Inc. is headquartered in New York. “

APRN has been the subject of a number of other research reports. Citigroup dropped 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. ValuEngine upgraded shares of Blue Apron from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.47.

Shares of Blue Apron stock opened at $7.49 on Friday. The stock has a market capitalization of $105.07 million, a P/E ratio of -0.79 and a beta of 1.10. The company has a quick ratio of 1.76, a current ratio of 2.33 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $8.31 and a 200 day simple moving average of $5.27. Blue Apron has a 12-month low of $6.10 and a 12-month high of $24.60.

Blue Apron (NYSE:APRN) last announced its earnings results on Tuesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.49. The business 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%. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. On average, equities analysts anticipate that Blue Apron will post -4.13 earnings per share for the current year.

In other Blue Apron news, insider Linda F. Kozlowski sold 4,674 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $7.14, for a total value of $33,372.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,409 shares of company stock valued at $60,040 in the last 90 days. Corporate insiders own 40.83% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tenzing Global Management LLC acquired a new stake in Blue Apron in the 2nd quarter valued at about $1,774,000. Jane Street Group LLC acquired a new stake in Blue Apron in the 2nd quarter valued at about $75,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in Blue Apron in the 2nd quarter valued at about $579,000. Hedge funds and other institutional investors own 16.22% of the company’s stock.

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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