Zacks Investment Research Upgrades KushCo (OTCMKTS:KSHB) to “Buy”

KushCo (OTCMKTS:KSHB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, reports. The brokerage currently has a $2.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 29.03% from the company’s current price.

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 brokerages also recently issued reports on KSHB. Canaccord Genuity reissued a “buy” rating and set a $3.50 price objective (down from $7.50) on shares of KushCo in a research report on Friday, November 8th. They noted that the move was a valuation call. Compass Point raised their price objective on KushCo from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Northland Securities reissued a “buy” rating and set a $6.00 price objective on shares of KushCo in a research report on Friday, November 8th. Nine analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $6.69.

Shares of KSHB opened at $1.55 on Thursday. The stock has a fifty day simple moving average of $1.64 and a two-hundred day simple moving average of $3.72. The company has a quick ratio of 1.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $184.67 million, a PE ratio of -4.43 and a beta of 1.71. KushCo has a 52-week low of $1.26 and a 52-week high of $7.20.

KushCo (OTCMKTS:KSHB) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The firm had revenue of $46.97 million during the quarter, compared to the consensus estimate of $45.56 million. KushCo had a negative return on equity of 35.58% and a negative net margin of 26.35%. The company’s quarterly revenue was up 135.3% on a year-over-year basis. During the same period last year, the company earned ($0.14) EPS. As a group, equities analysts anticipate that KushCo will post -0.26 earnings per share for the current fiscal year.

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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