KushCo (OTCMKTS:KSHB) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of KushCo (OTCMKTS:KSHB) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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 research analysts have also issued reports about the company. Benchmark started coverage on KushCo in a report on Wednesday, June 26th. They set a buy rating and a $7.00 target price on the stock. Alliance Global Partners set a C$75.00 target price on Canopy Growth and gave the stock a buy rating in a report on Monday, May 13th. Roth Capital started coverage on KushCo in a report on Thursday, June 6th. They set a buy rating and a $8.00 target price on the stock. Northland Securities upgraded Akoustis Technologies from a market perform rating to an outperform rating in a report on Wednesday, July 10th. Finally, Compass Point started coverage on Randsburg International Gold in a report on Monday, June 10th. They set a buy rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. KushCo presently has a consensus rating of Buy and an average price target of $7.88.

KSHB stock opened at $4.70 on Wednesday. The business’s 50-day simple moving average is $4.70. The company has a current ratio of 3.11, a quick ratio of 1.33 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $437.98 million, a price-to-earnings ratio of -29.38 and a beta of 1.71. KushCo has a 1-year low of $3.76 and a 1-year high of $7.20.

KushCo (OTCMKTS:KSHB) last posted its earnings results on Tuesday, July 9th. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The firm had revenue of $41.50 million for the quarter, compared to analyst estimates of $40.42 million. KushCo had a negative return on equity of 22.31% and a negative net margin of 17.36%. The company’s revenue for the quarter was up 221.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, sell-side analysts expect that KushCo will post -0.47 earnings per share for the current year.

In related news, Director Dallas Imbimbo sold 300,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $4.96, for a total transaction of $1,488,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 29.50% of the company’s stock.

KushCo Company Profile

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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