Aphria (NASDAQ:APHA) Stock Rating Lowered by Zacks Investment Research

Aphria (NASDAQ:APHA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, Zacks.com reports.

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 also recently issued reports on APHA. Stifel Nicolaus increased their price objective on Aphria from $15.50 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday. They noted that the move was a valuation call. Cantor Fitzgerald increased their price objective on Aphria from $26.00 to $32.50 and gave the stock an “overweight” rating in a research note on Tuesday, February 16th. Alliance Global Partners increased their price objective on Aphria from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday. CIBC increased their price objective on Aphria from $18.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, February 22nd. Finally, BMO Capital Markets increased their price objective on Aphria from $7.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $19.28.

Shares of NASDAQ APHA traded up $0.08 during mid-day trading on Thursday, hitting $16.27. 591,190 shares of the company traded hands, compared to its average volume of 24,227,232. Aphria has a 1 year low of $2.78 and a 1 year high of $32.29. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of -27.58 and a beta of 2.67. The company has a quick ratio of 1.17, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $18.57 and a two-hundred day moving average of $11.42.

Aphria (NASDAQ:APHA) last announced its earnings results on Wednesday, January 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.39). Aphria had a negative net margin of 36.10% and a negative return on equity of 2.30%. The company had revenue of $160.50 million for the quarter, compared to analysts’ expectations of $153.75 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, research analysts anticipate that Aphria will post -0.06 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Johnson Midwest Financial LLC acquired a new position in shares of Aphria during the 4th quarter valued at about $25,000. Valeo Financial Advisors LLC acquired a new position in shares of Aphria during the 4th quarter valued at about $28,000. Berman Capital Advisors LLC acquired a new stake in Aphria in the 4th quarter valued at approximately $34,000. AlphaMark Advisors LLC lifted its position in shares of Aphria by 650.7% during the 4th quarter. AlphaMark Advisors LLC now owns 5,105 shares of the company’s stock worth $35,000 after buying an additional 4,425 shares during the period. Finally, Liberty Wealth Management LLC bought a new position in shares of Aphria during the 4th quarter worth approximately $43,000. 10.30% of the stock is currently owned by institutional investors and hedge funds.

About Aphria

Aphria Inc cultivates, processes, produces, markets, distributes, and sells medical cannabis in Canada and internationally. The company offers pharmaceutical-grade medical cannabis, adult-use cannabis, and cannabis-derived extracts and derivative cannabis products under the Solei, RIFF, Good Supply, Aphria, P'tite Pof, and Broken Coast brands.

Featured Article: Understanding Analyst Ratings

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 (NASDAQ: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.