Trulieve Cannabis (NYSE:TRLV) Earns Overweight Rating from Cantor Fitzgerald

Trulieve Cannabis (NYSE:TRLV)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They presently have a $15.00 target price on the stock. Cantor Fitzgerald‘s target price would suggest a potential upside of 37.05% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. Wall Street Zen downgraded Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Price Performance

TRLV opened at $10.95 on Friday. The firm has a 50-day moving average price of $11.15. Trulieve Cannabis has a 1 year low of $4.62 and a 1 year high of $13.28. The firm has a market cap of $2.11 billion and a P/E ratio of 98.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.94 and a quick ratio of 3.98.

Trulieve Cannabis (NYSE:TRLV) last released its quarterly earnings results on Friday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Trulieve Cannabis had a negative return on equity of 4.24% and a negative net margin of 41.55%. The firm had revenue of $271.00 million for the quarter, compared to the consensus estimate of $268.82 million. Sell-side analysts anticipate that Trulieve Cannabis will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trulieve Cannabis

Institutional investors have recently made changes to their positions in the company. PFS Partners LLC bought a new stake in shares of Trulieve Cannabis during the third quarter worth approximately $33,000. Marion Wealth Management bought a new stake in shares of Trulieve Cannabis during the third quarter worth approximately $109,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Trulieve Cannabis during the third quarter worth approximately $770,000.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes and sells medical and adult-use cannabis products. Its offerings include flower, pre-rolls, concentrates, vaporizers, edibles, tinctures, capsules and topical products, sold through retail dispensaries and other approved channels under brands such as Trulieve, Cultivar Collection, Muse, Roll One and Alchemy.

Founded in 2015, Trulieve initially built its business around Florida’s medical cannabis market and later expanded into additional U.S.