Cresco Labs Inc. (OTCMKTS:CRLBF) Given Consensus Recommendation of “Buy” by Analysts

Cresco Labs Inc. (OTCMKTS:CRLBF) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $2.50.

A number of research firms recently weighed in on CRLBF. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Wedbush increased their price objective on shares of Cresco Labs from $2.50 to $3.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Roth Capital raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th.

Cresco Labs Stock Up 4.7 %

Cresco Labs stock opened at $2.00 on Friday. The firm has a market capitalization of $976.28 million, a P/E ratio of -4.26 and a beta of 1.86. The company has a current ratio of 1.36, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. Cresco Labs has a twelve month low of $1.01 and a twelve month high of $2.77. The stock’s fifty day simple moving average is $1.65 and its 200-day simple moving average is $1.88.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $184.36 million for the quarter, compared to analysts’ expectations of $184.26 million. Cresco Labs had a negative return on equity of 6.78% and a negative net margin of 20.32%. As a group, equities analysts expect that Cresco Labs will post -0.03 earnings per share for the current fiscal year.

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.