Blue Apron (NYSE:APRN) PT Lowered to $5.00

Blue Apron (NYSE:APRNGet Rating) had its price target lowered by Benchmark from $10.00 to $5.00 in a report released on Tuesday, The Fly reports. Benchmark’s target price would suggest a potential upside of 244.83% from the stock’s current price.

A number of other research firms also recently weighed in on APRN. Canaccord Genuity Group reissued a “hold” rating and set a $7.00 price target (down previously from $10.00) on shares of Blue Apron in a research report on Monday. Canaccord Genuity Group downgraded shares of Blue Apron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $7.00 in a research report on Monday. Finally, Lake Street Capital initiated coverage on shares of Blue Apron in a research report on Wednesday, August 10th. They set a “buy” rating and a $9.00 price target for the company.

Blue Apron Stock Down 11.6 %

APRN stock opened at $1.45 on Tuesday. Blue Apron has a twelve month low of $1.45 and a twelve month high of $12.76. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $50.45 million, a P/E ratio of -0.37 and a beta of -3.02. The firm has a 50 day simple moving average of $3.82 and a 200-day simple moving average of $3.71.

Blue Apron (NYSE:APRNGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. Blue Apron had a negative net margin of 25.21% and a negative return on equity of 211.07%. The business had revenue of $124.24 million during the quarter, compared to the consensus estimate of $123.70 million. During the same quarter last year, the company earned ($0.76) earnings per share. On average, equities research analysts predict that Blue Apron will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Linda Findley sold 9,915 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $5.97, for a total transaction of $59,192.55. Following the transaction, the chief executive officer now directly owns 208,576 shares in the company, valued at $1,245,198.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 22,761 shares of company stock worth $135,883 over the last ninety days. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Blue Apron

Large investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new stake in Blue Apron in the first quarter valued at $49,000. Russell Investments Group Ltd. lifted its stake in Blue Apron by 20.6% in the first quarter. Russell Investments Group Ltd. now owns 48,008 shares of the company’s stock valued at $193,000 after buying an additional 8,200 shares during the last quarter. Cobalt Capital Management Inc. bought a new stake in Blue Apron in the first quarter valued at $201,000. Wolf Hill Capital Management LP lifted its stake in Blue Apron by 96.3% in the first quarter. Wolf Hill Capital Management LP now owns 3,169,391 shares of the company’s stock valued at $12,836,000 after buying an additional 1,554,430 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in Blue Apron in the third quarter valued at $543,000.

About Blue Apron

(Get Rating)

Blue Apron Holdings, Inc operates a direct-to-consumer platform that delivers original recipes with fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce market that provides cooking tools, utensils, pantry items, and other products. 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.

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