Blue Apron (NYSE:APRN) Downgraded by Zacks Investment Research

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

Several other brokerages also recently issued reports on APRN. SunTrust Banks lowered their price target on Blue Apron from $10.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. ValuEngine upgraded Blue Apron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Blue Apron has an average rating of “Hold” and an average target price of $17.97.

Shares of Blue Apron stock traded down $0.16 during trading hours on Monday, hitting $7.55. The company’s stock had a trading volume of 191,862 shares, compared to its average volume of 508,755. Blue Apron has a 12 month low of $6.10 and a 12 month high of $24.60. The stock has a 50 day moving average of $8.25 and a 200 day moving average of $5.97. The company has a market capitalization of $100.89 million, a PE ratio of -0.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.35 and a quick ratio of 1.02.

Blue Apron (NYSE:APRN) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.98) by ($0.01). Blue Apron had a negative return on equity of 57.78% and a negative net margin of 12.55%. The business had revenue of $99.50 million during the quarter, compared to the consensus estimate of $106.92 million. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue was down 33.9% compared to the same quarter last year. Equities analysts expect that Blue Apron will post -4.25 EPS for the current year.

In related news, insider Linda F. Kozlowski sold 4,674 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $7.14, for a total transaction of $33,372.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 8,409 shares of company stock valued at $60,040. 40.83% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC acquired a new position in Blue Apron during the second quarter valued at approximately $579,000. Tenzing Global Management LLC acquired a new position in Blue Apron during the second quarter valued at approximately $1,774,000. Jane Street Group LLC acquired a new position in Blue Apron during the second quarter valued at approximately $75,000. Finally, River & Mercantile Asset Management LLP boosted its position in Blue Apron by 31.0% during the third quarter. River & Mercantile Asset Management LLP now owns 636,352 shares of the company’s stock valued at $5,368,000 after purchasing an additional 150,441 shares during the last quarter. Institutional investors and hedge funds own 16.35% 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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