Cresco Labs (OTCMKTS:CRLBF) Raised to Strong-Buy at Zacks Research

Cresco Labs (OTCMKTS:CRLBF) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Separately, Alliance Global Partners reissued a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Cresco Labs Trading Up 0.7%

CRLBF stock opened at $0.64 on Tuesday. The company has a market capitalization of $239.98 million, a PE ratio of -2.15 and a beta of 1.59. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78. Cresco Labs has a one year low of $0.59 and a one year high of $2.30. The company’s 50 day moving average price is $0.74 and its two-hundred day moving average price is $0.83.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. The company had revenue of $173.34 million during the quarter, compared to analysts’ expectations of $166.20 million. As a group, analysts predict that Cresco Labs will post -0.04 earnings per share for the current fiscal year.

About Cresco Labs

Cresco Labs Inc is a vertically integrated cannabis company headquartered in Chicago, Illinois. Founded in 2013, the company cultivates, manufactures and distributes cannabis products for adult-use and medical markets in states where cannabis is legally permitted.

The company’s product portfolio includes flower, pre-rolls, vapes, concentrates, edibles and other cannabis products sold under brands such as Cresco, High Supply, Good News, Wonder Wellness, FloraCal, Remedi and Mindy’s Edibles.