KushCo (OTCMKTS:KSHB) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $5.75 price objective on the stock.

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. “

Several other equities analysts also recently commented on the stock. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Benchmark started coverage on shares of KushCo in a research note on Wednesday, June 26th. They issued a buy rating and a $7.00 price target on the stock. Roth Capital started coverage on shares of KushCo in a research note on Thursday, June 6th. They issued a buy rating and a $8.00 price target on the stock. Alliance Global Partners set a C$75.00 price target on shares of Canopy Growth and gave the company a buy rating in a research note on Monday, May 13th. Finally, Compass Point started coverage on shares of Randsburg International Gold in a research note on Monday, June 10th. They issued a buy rating on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $7.91.

KSHB stock opened at $5.00 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.11 and a quick ratio of 2.28. The company has a 50-day simple moving average of $4.67. KushCo has a 52 week low of $3.76 and a 52 week high of $7.20. The firm has a market capitalization of $450.42 million, a P/E ratio of -31.25 and a beta of 1.71.

KushCo (OTCMKTS:KSHB) last released its quarterly earnings results on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. KushCo had a negative net margin of 17.36% and a negative return on equity of 22.31%. The business had revenue of $41.50 million for the quarter, compared to the consensus estimate of $40.42 million. During the same period in the prior year, the company posted ($0.03) earnings per share. KushCo’s revenue was up 221.7% compared to the same quarter last year. On average, equities research analysts anticipate that KushCo will post -0.44 earnings per share for the current fiscal year.

In related news, Chairman Nicholas Kovacevich sold 200,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $5.64, for a total transaction of $1,128,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.50% of the company’s stock.

About KushCo

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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