Canopy Growth (TSE:WEED) Upgraded at ATB Cormark Capital Markets

Canopy Growth (TSE:WEED) was upgraded by analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a C$1.40 price target on the stock. ATB Cormark Capital Markets’ price objective points to a potential downside of 3.45% from the stock’s previous close.

Separately, Sanford C. Bernstein reduced their price target on Canopy Growth from C$5.30 to C$2.50 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$1.95.

Canopy Growth Stock Up 5.1%

TSE WEED traded up C$0.07 during trading hours on Tuesday, reaching C$1.45. 1,721,257 shares of the company’s stock traded hands, compared to its average volume of 2,070,770. Canopy Growth has a 52-week low of C$1.09 and a 52-week high of C$3.28. The company has a debt-to-equity ratio of 35.93, a current ratio of 5.34 and a quick ratio of 2.32. The firm has a 50-day simple moving average of C$1.56 and a 200 day simple moving average of C$1.74. The firm has a market cap of C$547.90 million, a PE ratio of -0.78, a PEG ratio of -0.01 and a beta of 1.55.

Canopy Growth (TSE:WEED) last posted its quarterly earnings results on Friday, February 6th. The company reported C($0.18) earnings per share for the quarter. Canopy Growth had a negative return on equity of 52.88% and a negative net margin of 117.31%.The company had revenue of C$74.54 million during the quarter. Sell-side analysts anticipate that Canopy Growth will post -0.69 EPS for the current fiscal year.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.