Aphria (NASDAQ:APHA) Stock Rating Lowered by Zacks Investment Research

Aphria (NASDAQ:APHA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Aphria Inc. produces, supplies and sells medical cannabis primarily in Canada. The company offers sativa, indica and hybrid medical marijuana products, as well as cannabis oils. Aphria Inc. is headquartered in Leamington, Canada. “

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald boosted their price target on Aphria from $26.00 to $32.50 and gave the stock an “overweight” rating in a research report on Tuesday, February 16th. Stifel Nicolaus upped their target price on Aphria from $15.50 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday. They noted that the move was a valuation call. CIBC upped their target price on Aphria from $18.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, February 22nd. BMO Capital Markets upped their target price on Aphria from $7.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, January 15th. Finally, Alliance Global Partners lifted their price objective on shares of Aphria from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.28.

APHA traded up $0.08 on Thursday, hitting $16.27. 591,190 shares of the company were exchanged, compared to its average volume of 24,227,232. Aphria has a 12 month low of $2.78 and a 12 month high of $32.29. The company has a market cap of $5.15 billion, a PE ratio of -27.58 and a beta of 2.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 2.36. The stock’s fifty day moving average is $18.57 and its 200-day moving average is $11.42.

Aphria (NASDAQ:APHA) last announced its quarterly earnings results on Wednesday, January 13th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.39). The business had revenue of $160.50 million for the quarter, compared to analyst estimates of $153.75 million. Aphria had a negative return on equity of 2.30% and a negative net margin of 36.10%. Aphria’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. As a group, equities research analysts expect that Aphria will post -0.06 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. purchased a new stake in Aphria in the fourth quarter worth about $430,000. Truist Financial Corp grew its holdings in Aphria by 16.2% in the fourth quarter. Truist Financial Corp now owns 13,024 shares of the company’s stock worth $90,000 after purchasing an additional 1,814 shares during the period. Voloridge Investment Management LLC purchased a new stake in Aphria in the fourth quarter worth about $15,807,000. Morgan Stanley grew its holdings in Aphria by 64.5% in the fourth quarter. Morgan Stanley now owns 1,534,136 shares of the company’s stock worth $10,616,000 after purchasing an additional 601,596 shares during the period. Finally, ETF Managers Group LLC grew its holdings in Aphria by 149.9% in the fourth quarter. ETF Managers Group LLC now owns 12,362,308 shares of the company’s stock worth $85,547,000 after purchasing an additional 7,414,562 shares during the period. Institutional investors and hedge funds own 10.30% of the company’s stock.

Aphria Company Profile

Aphria Inc cultivates, processes, produces, markets, distributes, and sells medical cannabis in Canada and internationally. The company offers pharmaceutical-grade medical cannabis, adult-use cannabis, and cannabis-derived extracts and derivative cannabis products under the Solei, RIFF, Good Supply, Aphria, P'tite Pof, and Broken Coast brands.

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