Canopy Growth (CGC) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Canopy Growth (NYSE: CGC):

  • 7/8/2019 – Canopy Growth had its price target lowered by analysts at Piper Jaffray Companies from $57.00 to $54.00. They now have an “overweight” rating on the stock.
  • 7/5/2019 – Canopy Growth was downgraded by analysts at Bryan, Garnier & Co from a “buy” rating to a “neutral” rating.
  • 7/4/2019 – Canopy Growth had its “hold” rating reaffirmed by analysts at Desjardins.
  • 7/3/2019 – Canopy Growth was given a new $53.00 price target on by analysts at Bank of America Corp. They now have a “buy” rating on the stock.
  • 7/3/2019 – Canopy Growth had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
  • 6/28/2019 – Canopy Growth is now covered by analysts at Consumer Edge. They set an “equal weight” rating on the stock.
  • 6/26/2019 – Canopy Growth was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Canopy Growth Corporation is a cannabis company. It offers dry cannabis and oil products primarily under the Tweed brand. Canopy Growth Corporation is headquartered in Smiths Falls, Canada. “
  • 6/24/2019 – Canopy Growth had its “hold” rating reaffirmed by analysts at Desjardins.
  • 6/24/2019 – Canopy Growth was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “Canopy Growth Corporation is a cannabis company. It offers dry cannabis and oil products primarily under the Tweed brand. Canopy Growth Corporation is headquartered in Smiths Falls, Canada. “
  • 6/21/2019 – Canopy Growth was given a new $60.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 6/19/2019 – Canopy Growth had its price target lowered by analysts at Bank of America Corp from $80.00 to $75.00. They now have a “buy” rating on the stock.
  • 6/12/2019 – Canopy Growth is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $107.57 price target on the stock.
  • 6/11/2019 – Canopy Growth was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Canopy Growth Corporation is a cannabis company. It offers dry cannabis and oil products primarily under the Tweed brand. Canopy Growth Corporation is headquartered in Smiths Falls, Canada. “
  • 6/10/2019 – Canopy Growth is now covered by analysts at Compass Point. They set a “neutral” rating and a $43.76 price target on the stock.
  • 6/7/2019 – Canopy Growth was given a new $80.00 price target on by analysts at Bank of America Corp. They now have a “buy” rating on the stock.
  • 6/5/2019 – Canopy Growth is now covered by analysts at Stifel Nicolaus. They set a “buy” rating and a $40.83 price target on the stock.

CGC stock traded up $0.39 during mid-day trading on Tuesday, hitting $35.56. 4,054,660 shares of the company were exchanged, compared to its average volume of 7,046,862. The company has a quick ratio of 11.49, a current ratio of 12.32 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of -22.36 and a beta of 3.67. The firm’s fifty day simple moving average is $40.29. Canopy Growth Corp has a 12-month low of $24.21 and a 12-month high of $59.25.

Canopy Growth (NYSE:CGC) last posted its quarterly earnings data on Thursday, June 20th. The marijuana producer reported ($0.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.50). Canopy Growth had a negative net margin of 304.03% and a negative return on equity of 15.82%. The business had revenue of $70.74 million during the quarter, compared to analysts’ expectations of $71.06 million. As a group, equities analysts expect that Canopy Growth Corp will post -0.82 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Certified Advisory Corp increased its stake in Canopy Growth by 76.2% in the 1st quarter. Certified Advisory Corp now owns 2,296 shares of the marijuana producer’s stock valued at $100,000 after buying an additional 993 shares during the period. Deutsche Bank AG lifted its stake in Canopy Growth by 111.2% during the fourth quarter. Deutsche Bank AG now owns 176,861 shares of the marijuana producer’s stock worth $4,749,000 after purchasing an additional 93,136 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Canopy Growth by 5.9% during the first quarter. Oppenheimer & Co. Inc. now owns 58,434 shares of the marijuana producer’s stock worth $2,534,000 after purchasing an additional 3,239 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Canopy Growth by 147.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,645 shares of the marijuana producer’s stock worth $44,000 after purchasing an additional 980 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in Canopy Growth by 102.2% during the first quarter. Flagship Harbor Advisors LLC now owns 13,111 shares of the marijuana producer’s stock worth $568,000 after purchasing an additional 6,628 shares during the last quarter. Institutional investors own 8.02% of the company’s stock.

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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