Analysts Set Cresco Labs Inc. (OTCMKTS:CRLBF) Target Price at $2.50

Cresco Labs Inc. (OTCMKTS:CRLBF) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $2.50.

Several analysts have weighed in on the stock. Ventum Cap Mkts upgraded shares of Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Finally, Roth Capital raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Cresco Labs Price Performance

OTCMKTS:CRLBF opened at $1.63 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.30 and a current ratio of 2.00. The stock’s 50-day simple moving average is $1.65 and its 200 day simple moving average is $1.76. The company has a market cap of $795.67 million, a P/E ratio of -3.47 and a beta of 1.86. Cresco Labs has a 52-week low of $1.06 and a 52-week high of $2.65.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $184.36 million during the quarter, compared to analyst estimates of $184.26 million. Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. As a group, sell-side analysts forecast that Cresco Labs will post -0.15 EPS for the current fiscal year.

Cresco Labs Company Profile

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.