Analysts Set Cresco Labs Inc. (OTCMKTS:CRLBF) PT at $6.96

Cresco Labs Inc. (OTCMKTS:CRLBFGet Rating) has received an average recommendation of “Hold” from the twelve brokerages that are covering the company, reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.96.

A number of equities research analysts recently issued reports on CRLBF shares. Stifel Nicolaus reduced their target price on Cresco Labs from C$2.75 to C$2.50 in a research note on Friday, March 17th. Roth Capital lowered Cresco Labs from a “buy” rating to a “neutral” rating in a research note on Friday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $14.25 price objective on shares of Cresco Labs in a report on Friday, February 24th. Piper Sandler downgraded Cresco Labs from an “overweight” rating to a “neutral” rating in a report on Monday, February 27th. Finally, Echelon Wealth Partners downgraded Cresco Labs from a “buy” rating to a “hold” rating in a report on Thursday, March 16th.

Cresco Labs Stock Performance

OTCMKTS CRLBF opened at $1.87 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of 1.06. Cresco Labs has a 52-week low of $1.30 and a 52-week high of $4.45. The business’s 50-day moving average price is $1.55 and its 200 day moving average price is $2.03. The firm has a market cap of $504.96 million, a P/E ratio of -2.66 and a beta of 2.76.

Cresco Labs (OTCMKTS:CRLBFGet Rating) last announced its quarterly earnings data on Tuesday, March 21st. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Cresco Labs had a negative net margin of 25.16% and a negative return on equity of 8.08%. The business had revenue of $199.58 million during the quarter, compared to analysts’ expectations of $204.47 million. On average, equities research analysts expect that Cresco Labs will post -0.14 earnings per share for the current year.

About Cresco Labs

(Get Rating)

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand, as well as cannabis products under the Reserve brand.

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Analyst Recommendations for Cresco Labs (OTCMKTS:CRLBF)

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