Citigroup Trims Blue Apron (NYSE:APRN) Target Price to $8.00

Blue Apron (NYSE:APRN) had its target price decreased by Citigroup from $18.00 to $8.00 in a report released on Thursday morning, 24/7 WallStreet reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on APRN. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. SunTrust Banks reissued a hold rating and issued a $25.50 price objective on shares of Blue Apron in a research note on Sunday, April 7th. Ten equities research analysts have rated the stock with a hold rating, Blue Apron currently has an average rating of Hold and a consensus price target of $23.01.

APRN opened at $7.74 on Thursday. The stock has a market capitalization of $100.70 million, a PE ratio of -0.82 and a beta of 0.92. The company’s fifty day moving average is $4.00. Blue Apron has a fifty-two week low of $6.10 and a fifty-two week high of $62.25. The company has a quick ratio of 1.69, a current ratio of 2.21 and a debt-to-equity ratio of 0.70.

Blue Apron (NYSE:APRN) last posted its earnings results on Tuesday, April 30th. The company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.90) by $0.45. The company had revenue of $141.89 million during the quarter, compared to analysts’ expectations of $149.79 million. Blue Apron had a negative net margin of 15.63% and a negative return on equity of 70.16%. Blue Apron’s quarterly revenue was down 27.9% on a year-over-year basis. During the same period last year, the company posted ($2.55) earnings per share. On average, analysts anticipate that Blue Apron will post -4.05 earnings per share for the current year.

In other news, CEO Linda F. Kozlowski sold 45,689 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $0.69, for a total value of $31,525.41. Following the completion of the sale, the chief executive officer now owns 98,143 shares in the company, valued at approximately $67,718.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Bensley sold 44,055 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $0.69, for a total transaction of $30,397.95. Following the completion of the sale, the chief financial officer now owns 82,226 shares of the company’s stock, valued at approximately $56,735.94. The disclosure for this sale can be found here. Insiders sold a total of 103,928 shares of company stock valued at $71,710 over the last three months. Corporate insiders own 56.24% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in Blue Apron by 69.6% during the 1st quarter. Baillie Gifford & Co. now owns 2,227,600 shares of the company’s stock valued at $2,183,000 after buying an additional 914,200 shares in the last quarter. Laurion Capital Management LP bought a new stake in Blue Apron during the 1st quarter valued at about $349,000. TAP Consulting LLC bought a new stake in Blue Apron during the 1st quarter valued at about $77,000. River & Mercantile Asset Management LLP lifted its holdings in Blue Apron by 39.1% during the 1st quarter. River & Mercantile Asset Management LLP now owns 7,243,581 shares of the company’s stock valued at $7,059,000 after buying an additional 2,037,600 shares in the last quarter. Finally, RBF Capital LLC bought a new stake in Blue Apron during the 4th quarter valued at about $505,000.

Blue Apron Company Profile

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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Analyst Recommendations for Blue Apron (NYSE:APRN)

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