Zacks Investment Research Upgrades CannTrust (NYSE:CTST) to “Buy”

CannTrust (NYSE:CTST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $3.00 price objective 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. “

Several other research firms also recently weighed in on CTST. Bloom Burton downgraded CannTrust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Eight Capital downgraded CannTrust from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. 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 stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Roth Capital began coverage on Electrameccanica Vehicles in a research report on Tuesday, July 9th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$7.25.

NYSE CTST traded up C$0.11 during trading hours on Wednesday, hitting C$2.86. 4,261,100 shares of the company’s stock were exchanged, compared to its average volume of 2,445,570. The stock has a 50 day simple moving average of C$4.71. CannTrust has a 12-month low of C$2.43 and a 12-month high of C$11.97. The firm has a market capitalization of $398.24 million, a price-to-earnings ratio of -26.00 and a beta of 3.49. The company has a quick ratio of 3.38, a current ratio of 5.64 and a debt-to-equity ratio of 0.01.

CannTrust (NYSE:CTST) last released its earnings results on Tuesday, May 14th. The company reported C$0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of C$17.00 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 114.9% compared to the same quarter last year. On average, research analysts anticipate that CannTrust will post -0.02 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CTST. Davis Rea LTD. grew its holdings in shares of CannTrust by 7.4% in the 2nd quarter. Davis Rea LTD. now owns 532,785 shares of the company’s stock worth $2,669,000 after acquiring an additional 36,650 shares during the last quarter. Hilton Capital Management LLC acquired a new position in shares of CannTrust in the 1st quarter worth $698,000. JW Asset Management LLC acquired a new position in shares of CannTrust in the 1st quarter worth $10,863,000. Aureus Asset Management LLC acquired a new position in shares of CannTrust in the 1st quarter worth $647,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of CannTrust in the 1st quarter worth $26,000. 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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