KushCo’s (KSHB) “Buy” Rating Reiterated at Northland Securities

Northland Securities restated their buy rating on shares of KushCo (OTCMKTS:KSHB) in a research note released on Wednesday, AnalystRatings.com reports. They currently have a $8.00 price target on the stock.

“We believe KSHB will continue to benefit from growing & deepening its customer relationships while also cross-selling throughout its customer base as the company continues to power the global cannabis ecosystem. Key Points KSHB reported FQ3 revenues, adjusted EBITDA and EPS of $41.5M, $(7.5)M and $(0.12), which were all ahead of our $40.8M, $(7.6)M and $(0.15) estimates, respectively. Top-line strength in the quarter was driven by attractive sequential growth across the company’s Energy & Natural Products (+9%) product categories. With respect to specific markets, KSHB recognized notable sequential growth across newer recreational markets (MI +164%, MA +85%, ME +28%) as well as more established markets (NV +46%, OR +46%, WA +27%, CO +26%).”,” Northland Securities’ analyst wrote.

Several other equities research analysts have also recently commented on KSHB. Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a research report on Wednesday. Benchmark assumed coverage on shares of KushCo in a research report on Wednesday, June 26th. They set a buy rating and a $7.00 price target for the company. Roth Capital assumed coverage on shares of KushCo in a research report on Thursday, June 6th. They set a buy rating and a $8.00 price target for the company. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Alliance Global Partners set a C$75.00 price target on shares of Canopy Growth and gave the stock a buy rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $7.91.

Shares of OTCMKTS:KSHB opened at $5.00 on Wednesday. KushCo has a one year low of $3.76 and a one year high of $7.20. The business’s 50 day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.28 and a current ratio of 3.11. The firm has a market cap of $450.42 million, a PE ratio of -31.25 and a beta of 1.71.

KushCo (OTCMKTS:KSHB) last issued its quarterly earnings results on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. KushCo had a negative net margin of 17.36% and a negative return on equity of 22.31%. The company had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $40.42 million. During the same quarter in the previous year, the company earned ($0.03) EPS. KushCo’s revenue was up 221.7% on a year-over-year basis. On average, sell-side analysts anticipate that KushCo will post -0.44 EPS for the current 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 shares were sold at an average price of $5.64, for a total transaction of $1,128,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 29.50% of the stock is currently owned by insiders.

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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Analyst Recommendations for KushCo (OTCMKTS:KSHB)

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