Canopy Growth (NYSE:CGC) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH assumed coverage on shares of Canopy Growth (NYSE:CGC) in a research note issued to investors on Wednesday morning, 24/7 WallStreet reports. The brokerage issued a buy rating and a $50.00 target price on the marijuana producer’s stock.

CGC has been the subject of several other reports. Compass Point began coverage on Randsburg International Gold in a research report on Monday, June 10th. They issued a buy rating for the company. Bryan, Garnier & Co reissued a neutral rating and issued a $60.00 price objective (down from $85.00) on shares of in a research report on Friday, July 5th. Stifel Nicolaus reissued a buy rating on shares of Canopy Growth in a research report on Wednesday, July 3rd. Bank of America set a $225.00 price objective on Tesla and gave the stock a sell rating in a research report on Wednesday, July 3rd. Finally, Piper Jaffray Companies set a $92.00 price objective on Wintrust Financial and gave the stock a buy rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Canopy Growth presently has a consensus rating of Hold and an average price target of $54.86.

Shares of CGC opened at $35.49 on Wednesday. Canopy Growth has a 12 month low of $24.21 and a 12 month high of $59.25. The stock’s 50-day moving average is $39.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.49 and a current ratio of 12.32.

Canopy Growth (NYSE:CGC) last posted its quarterly earnings data on Thursday, June 20th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.50). Canopy Growth had a negative return on equity of 15.82% and a negative net margin of 304.03%. The business had revenue of $70.74 million during the quarter, compared to the consensus estimate of $71.06 million. On average, equities research analysts forecast that Canopy Growth will post -0.9 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Certified Advisory Corp increased its position 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 in the last quarter. Deutsche Bank AG increased its position in Canopy Growth by 111.2% in the 4th quarter. Deutsche Bank AG now owns 176,861 shares of the marijuana producer’s stock valued at $4,749,000 after buying an additional 93,136 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Canopy Growth by 5.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 58,434 shares of the marijuana producer’s stock valued at $2,534,000 after buying an additional 3,239 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in Canopy Growth by 147.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,645 shares of the marijuana producer’s stock valued at $44,000 after buying an additional 980 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Canopy Growth by 102.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 13,111 shares of the marijuana producer’s stock valued at $568,000 after buying an additional 6,628 shares in the last quarter. 8.02% of the stock is owned by institutional investors and hedge funds.

Canopy Growth Company Profile

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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Analyst Recommendations for Canopy Growth (NYSE:CGC)

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