Blue Apron Holdings Inc (APRN) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Blue Apron Holdings Inc (NASDAQ:APRN) from a hold rating to a sell rating in a report released on Tuesday.

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 research firms also recently commented on APRN. CIBC began coverage on Blue Apron Holdings in a research report on Monday, July 24th. They issued an outperform rating and a $11.00 target price on the stock. Citigroup Inc. initiated coverage on Blue Apron Holdings in a research report on Tuesday, July 25th. They set a buy rating and a $10.00 price target on the stock. Raymond James Financial, Inc. initiated coverage on Blue Apron Holdings in a research report on Monday, July 24th. They set a market perform rating on the stock. Oppenheimer Holdings, Inc. initiated coverage on Blue Apron Holdings in a research report on Monday, July 24th. They set an outperform rating and a $11.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Blue Apron Holdings in a research report on Monday, July 24th. They set an equal weight rating and a $7.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $7.67.

Blue Apron Holdings (NASDAQ APRN) opened at 5.37 on Tuesday. The company’s market cap is $161.33 million. The company’s 50 day moving average price is $5.76 and its 200 day moving average price is $6.38. Blue Apron Holdings has a 52-week low of $5.00 and a 52-week high of $11.00.

Blue Apron Holdings (NASDAQ:APRN) last posted its earnings results on Thursday, August 10th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The firm had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.78 million. The business’s quarterly revenue was up 17.9% on a year-over-year basis. Equities research analysts anticipate that Blue Apron Holdings will post ($1.58) EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Obermeyer Wood Investment Counsel Lllp bought a new position in shares of Blue Apron Holdings in the 2nd quarter valued at $110,000. Royal Bank of Canada bought a new position in shares of Blue Apron Holdings in the 2nd quarter valued at $141,000. Legal & General Group Plc bought a new position in shares of Blue Apron Holdings in the 2nd quarter valued at $187,000. DekaBank Deutsche Girozentrale bought a new position in shares of Blue Apron Holdings in the 2nd quarter valued at $220,000. Finally, SG Americas Securities LLC bought a new position in shares of Blue Apron Holdings in the 2nd quarter valued at $264,000.

About Blue Apron Holdings

Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.

Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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