Northland Securities restated their buy rating on shares of KushCo (OTCMKTS:KSHB) in a report issued on Wednesday, AnalystRatings.com reports. The firm currently has a $8.00 price target on the stock.
“We believe KSHB will continue to benefit from growing & deepening its customer relationships while also cross-selling throughout its customer base as the company continues to power the global cannabis ecosystem. Key Points KSHB reported FQ3 revenues, adjusted EBITDA and EPS of $41.5M, $(7.5)M and $(0.12), which were all ahead of our $40.8M, $(7.6)M and $(0.15) estimates, respectively. Top-line strength in the quarter was driven by attractive sequential growth across the company’s Energy & Natural Products (+9%) product categories. With respect to specific markets, KSHB recognized notable sequential growth across newer recreational markets (MI +164%, MA +85%, ME +28%) as well as more established markets (NV +46%, OR +46%, WA +27%, CO +26%).”,” the firm’s analyst wrote.
A number of other research analysts have also issued reports on KSHB. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Alliance Global Partners set a C$75.00 target price on shares of Canopy Growth and gave the company a buy rating in a research note on Monday, May 13th. Compass Point assumed coverage on shares of Randsburg International Gold in a research note on Monday, June 10th. They issued a buy rating on the stock. Roth Capital assumed coverage on shares of KushCo in a research note on Thursday, June 6th. They issued a buy rating and a $8.00 target price on the stock. Finally, Benchmark assumed coverage on shares of KushCo in a research note on Wednesday, June 26th. They issued a buy rating and a $7.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $7.91.
OTCMKTS:KSHB opened at $5.00 on Wednesday. KushCo has a 1 year low of $3.76 and a 1 year high of $7.20. The firm has a fifty day moving average price of $4.67. The company has a quick ratio of 2.28, a current ratio of 3.11 and a debt-to-equity ratio of 0.18. The firm has a market cap of $450.42 million, a price-to-earnings ratio of -31.25 and a beta of 1.71.
KushCo (OTCMKTS:KSHB) last posted its earnings results on Tuesday, July 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. KushCo had a negative net margin of 17.36% and a negative return on equity of 22.31%. The business had revenue of $41.50 million for the quarter, compared to analyst estimates of $40.42 million. During the same period last year, the business posted ($0.03) EPS. KushCo’s revenue was up 221.7% compared to the same quarter last year. Equities analysts anticipate that KushCo will post -0.44 EPS for the current fiscal year.
In other KushCo news, Chairman Nicholas Kovacevich sold 200,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $5.64, for a total value of $1,128,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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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