Aphria (NYSE:APHA) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Aphria (NYSE:APHA) from a hold rating to a strong-buy rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has $7.00 price objective on the stock.

According to Zacks, “Aphria Inc. produces, supplies and sells medical cannabis primarily in Canada. The company offers sativa, indica and hybrid medical marijuana products, as well as cannabis oils. Aphria Inc. is headquartered in Leamington, Canada. “

Several other brokerages have also issued reports on APHA. CIBC upped their price target on Aphria from $6.00 to $7.00 and gave the company a neutral rating in a research note on Thursday, April 16th. Alliance Global Partners reaffirmed a buy rating and set a $9.00 price target on shares of Aphria in a research note on Wednesday, July 15th. Eight Capital raised Aphria to a buy rating in a research note on Thursday, April 16th. Cantor Fitzgerald increased their target price on Aphria from $10.50 to $11.00 and gave the company an overweight rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus raised Aphria from a hold rating to a buy rating and increased their target price for the company from $5.30 to $8.00 in a research note on Monday, July 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Aphria presently has a consensus rating of Buy and a consensus price target of $8.60.

Shares of APHA opened at $4.78 on Wednesday. The company has a quick ratio of 3.73, a current ratio of 5.19 and a debt-to-equity ratio of 0.25. Aphria has a 12-month low of $1.95 and a 12-month high of $7.60. The firm has a market capitalization of $1.37 billion, a PE ratio of 53.06 and a beta of 2.19. The stock’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $4.01.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Aphria by 64.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,681 shares of the company’s stock valued at $26,000 after acquiring an additional 3,392 shares during the last quarter. Cetera Investment Advisers bought a new position in Aphria in the first quarter valued at $32,000. Alpine Global Management LLC bought a new position in Aphria in the first quarter valued at $33,000. BerganKDV Wealth Management LLC increased its stake in Aphria by 32.0% in the first quarter. BerganKDV Wealth Management LLC now owns 11,950 shares of the company’s stock valued at $36,000 after acquiring an additional 2,900 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in Aphria by 42.7% in the first quarter. AE Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $49,000 after acquiring an additional 4,770 shares during the last quarter. 9.57% of the stock is currently owned by hedge funds and other institutional investors.

About Aphria

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

See Also: What is a Swap?

Get a free copy of the Zacks research report on Aphria (APHA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Aphria (NYSE:APHA)

Receive News & Ratings for Aphria Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aphria and related companies with MarketBeat.com's FREE daily email newsletter.