Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. They currently have $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. “
Other equities research analysts have also issued research reports about the stock. Roth Capital initiated coverage on shares of KushCo in a report on Thursday, June 6th. They set a buy rating and a $8.00 target price for the company. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Alliance Global Partners set a C$75.00 target price on shares of Canopy Growth and gave the stock a buy rating in a report on Monday, May 13th. Northland Securities raised shares of Akoustis Technologies from a market perform rating to an outperform rating in a report on Wednesday, July 10th. Finally, Benchmark initiated coverage on shares of KushCo in a report on Wednesday, June 26th. They set a buy rating and a $7.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. KushCo presently has a consensus rating of Buy and an average price target of $7.88.
OTCMKTS:KSHB opened at $4.70 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.33 and a current ratio of 3.11. The stock has a market cap of $417.55 million, a price-to-earnings ratio of -29.38 and a beta of 1.71. The company’s 50 day moving average price is $4.70. KushCo has a 1-year low of $3.76 and a 1-year high of $7.20.
KushCo (OTCMKTS:KSHB) last issued its quarterly earnings results on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $41.50 million during the quarter, compared to analyst estimates of $40.42 million. KushCo had a negative net margin of 17.36% and a negative return on equity of 22.31%. The firm’s revenue was up 221.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. As a group, equities research analysts forecast that KushCo will post -0.47 EPS for the current year.
In other KushCo news, Director Dallas Imbimbo sold 300,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $4.96, for a total transaction of $1,488,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 29.50% of the stock is owned by corporate 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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