Analysts Set CannTrust Holdings Inc (CTST) Target Price at $10.10

Shares of CannTrust Holdings Inc (NYSE:CTST) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$10.10.

A number of equities research analysts have recently issued reports on CTST shares. Zacks Investment Research cut shares of CannTrust from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Bank of America started coverage on shares of CannTrust in a research note on Friday, May 24th. They issued a “buy” rating and a $5.69 price objective for the company. Bloom Burton raised shares of CannTrust from an “accumulate” rating to a “buy” rating in a research note on Wednesday, May 15th. BMO Capital Markets raised shares of CannTrust from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 30th. Finally, Paradigm Capital reissued a “buy” rating on shares of CannTrust in a research report on Thursday, May 23rd.

A number of institutional investors and hedge funds have recently made changes to their positions in CTST. PNC Financial Services Group Inc. purchased a new stake in CannTrust during the 1st quarter valued at $26,000. Shell Asset Management Co. bought a new position in CannTrust in the 1st quarter worth $41,000. Paragon Capital Management LLC bought a new position in CannTrust in the 1st quarter worth $54,000. Winslow Evans & Crocker Inc. bought a new position in CannTrust in the 1st quarter worth $56,000. Finally, Citigroup Inc. bought a new position in CannTrust in the 1st quarter worth $94,000. 7.70% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CTST traded down C$0.03 during trading on Thursday, reaching C$5.21. The company had a trading volume of 1,451,141 shares, compared to its average volume of 1,913,700. The firm has a market capitalization of $553.55 million, a price-to-earnings ratio of -47.36 and a beta of 4.04. CannTrust has a 12 month low of C$4.35 and a 12 month high of C$11.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.64 and a quick ratio of 3.38.

CannTrust (NYSE:CTST) last issued its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.14. CannTrust had a negative net margin of 22.33% and a negative return on equity of 6.69%. The firm had revenue of C$16.85 million for the quarter, compared to analyst estimates of C$17.00 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 114.9% compared to the same quarter last year.

About CannTrust

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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