Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a report released on Friday, Zacks.com reports. Zacks Investment Research currently has $5.50 target price on the stock.
According to Zacks, “KushCo Holdings Inc. is the parent company to a diverse group of business units primarily in the cannabis, CBD and other related industries. KushCo Holdings’ subsidiaries provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving customer base. The company’s brands include Kush Bottles, a sales platform distributor of packaging, supplies, and accessories. Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector. Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions. KushCo Holdings Inc., formerly known as Kush Bottles Inc., is headquartered in Garden Grove, California. “
A number of other equities research analysts have also recently weighed in on KSHB. Alliance Global Partners set a C$75.00 price objective on Canopy Growth and gave the company a buy rating in a research note on Monday, May 13th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Roth Capital began coverage on KushCo in a research note on Thursday, June 6th. They set a buy rating and a $8.00 target price for the company. Compass Point began coverage on Randsburg International Gold in a research note on Monday, June 10th. They set a buy rating for the company. Finally, Northland Securities raised Akoustis Technologies from a market perform rating to an outperform rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $7.88.
OTCMKTS:KSHB opened at $4.54 on Friday. KushCo has a 52 week low of $3.76 and a 52 week high of $7.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.11 and a quick ratio of 1.33. The stock has a market capitalization of $403.33 million, a P/E ratio of -28.38 and a beta of 1.71. The company has a fifty day simple moving average of $4.72.
KushCo (OTCMKTS:KSHB) last posted its earnings results on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. KushCo had a negative return on equity of 22.31% and a negative net margin of 17.36%. The company had revenue of $41.50 million for the quarter, compared to the consensus estimate of $40.42 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was up 221.7% on a year-over-year basis. Equities analysts expect that KushCo will post -0.47 EPS for the current year.
In other news, Director Dallas Imbimbo sold 300,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $4.96, for a total value of $1,488,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.50% of the stock is currently owned by insiders.
KushCo Holdings, Inc primarily engages in the wholesale distribution of packaging supplies in the United States, Canada, Europe, and internationally. The company offers pop-top bottles; child resistant exit, paper exit, and foil barrier bags; tubes; and polystyrene, silicone-lined polystyrene or glass containers.
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