CannTrust (NYSE:CTST) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of CannTrust (NYSE:CTST) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The brokerage currently has $3.00 target price on the stock.

According to Zacks, “CannTrust Holdings Inc. operates as a pharmaceutical company. It develops and produces medical cannabis for health care sectors. CannTrust Holdings Inc. is based in Vaughan, Canada. “

A number of other brokerages have also commented on CTST. Bloom Burton lowered CannTrust from a buy rating to a hold rating in a report on Wednesday, July 10th. Roth Capital initiated coverage on Electrameccanica Vehicles in a research report on Tuesday, July 9th. They set a buy rating for the company. Bank of America reiterated a sell rating on shares of Deutsche Bank in a research report on Monday, July 8th. Citigroup set a $95.00 target price on iRobot and gave the company a hold rating in a research report on Wednesday, July 3rd. Finally, Eight Capital downgraded CannTrust from a buy rating to a neutral rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of C$7.25.

Shares of NYSE CTST opened at C$2.77 on Wednesday. The company has a current ratio of 5.64, a quick ratio of 3.38 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of C$4.60. CannTrust has a one year low of C$2.43 and a one year high of C$11.97. The firm has a market cap of $391.19 million, a price-to-earnings ratio of -25.18 and a beta of 3.49.

CannTrust (NYSE:CTST) last issued its quarterly earnings data on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.14. CannTrust had a negative return on equity of 6.69% and a negative net margin of 22.33%. The firm had revenue of C$16.85 million for the quarter, compared to analyst estimates of C$17.00 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 114.9% on a year-over-year basis. As a group, research analysts expect that CannTrust will post -0.01 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in shares of CannTrust during the 1st quarter valued at $26,000. Commonwealth Equity Services LLC lifted its position in shares of CannTrust by 11.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 43,208 shares of the company’s stock valued at $216,000 after acquiring an additional 4,547 shares during the period. Shell Asset Management Co. bought a new stake in shares of CannTrust during the 1st quarter valued at $41,000. Paragon Capital Management LLC bought a new stake in shares of CannTrust during the 1st quarter valued at $54,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in shares of CannTrust during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 5.79% of the company’s stock.

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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