KushCo (OTCMKTS:KSHB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of KushCo (OTCMKTS:KSHB) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

A number of other research analysts have also commented on the stock. ValuEngine upgraded shares of KushCo from a hold rating to a buy rating in a research report on Thursday, June 27th. Northland Securities restated a buy rating and set a $8.00 price target on shares of KushCo in a research report on Wednesday, July 10th. Benchmark initiated coverage on shares of KushCo in a report on Wednesday, June 26th. They set a buy rating and a $7.00 price objective for the company. Alliance Global Partners initiated coverage on shares of KushCo in a report on Monday, May 13th. They set a buy rating and a $9.00 price objective for the company. Finally, Compass Point initiated coverage on shares of KushCo in a report on Monday, June 10th. They set a buy rating and a $8.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $7.81.

Shares of KSHB traded up $0.09 during mid-day trading on Wednesday, reaching $4.87. 81,487 shares of the stock traded hands, compared to its average volume of 475,669. The business has a fifty day simple moving average of $4.71. The firm has a market cap of $429.10 million, a P/E ratio of -30.44 and a beta of 1.71. The company has a current ratio of 3.11, a quick ratio of 1.33 and a debt-to-equity ratio of 0.18. KushCo has a 1 year low of $3.76 and a 1 year high of $7.20.

KushCo (OTCMKTS:KSHB) last released its quarterly earnings results on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $41.50 million during the quarter, compared to analyst estimates of $40.42 million. KushCo had a negative net margin of 17.36% and a negative return on equity of 22.31%. The business’s revenue for the quarter was up 221.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. Equities analysts anticipate that KushCo will post -0.47 EPS for the current fiscal year.

In other KushCo news, Director Dallas Imbimbo sold 300,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $4.96, for a total value of $1,488,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 29.50% of the stock is currently owned by corporate insiders.

KushCo Company Profile

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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