KushCo (OTCMKTS:KSHB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $5.75 target price on the stock.

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 issued reports on KSHB. Roth Capital initiated coverage on KushCo in a report on Thursday, June 6th. They set a buy rating and a $8.00 target price on the stock. Benchmark began coverage on KushCo in a research note on Wednesday, June 26th. They issued a buy rating and a $7.00 price target on the stock. Compass Point began coverage on Randsburg International Gold in a research note on Monday, June 10th. They issued a buy rating on the stock. Northland Securities set a $9.00 price target on KushCo and gave the stock a buy rating in a research note on Friday, April 12th. Finally, ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $7.91.

OTCMKTS:KSHB opened at $5.00 on Wednesday. The business’s 50-day moving average price is $4.67. The firm has a market capitalization of $444.20 million, a price-to-earnings ratio of -31.25 and a beta of 1.71. KushCo has a 52-week low of $3.76 and a 52-week high of $7.20. The company has a current ratio of 3.11, a quick ratio of 2.28 and a debt-to-equity ratio of 0.18.

KushCo (OTCMKTS:KSHB) last released its earnings results on Tuesday, July 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $41.50 million for the quarter, compared to analyst estimates of $40.42 million. KushCo had a negative return on equity of 22.31% and a negative net margin of 17.36%. KushCo’s revenue was up 221.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. On average, equities analysts anticipate that KushCo will post -0.45 earnings per share for the current fiscal year.

In related news, Chairman Nicholas Kovacevich sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $5.64, for a total value of $1,128,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.50% of the stock is currently owned by 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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