Ayr Wellness (OTCMKTS:AYRWF) Upgraded by Zacks Investment Research to “Hold”

Ayr Wellness (OTCMKTS:AYRWFGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

AYRWF has been the topic of several other research reports. Cantor Fitzgerald cut their target price on Ayr Wellness from $17.50 to $13.30 and set a “neutral” rating on the stock in a research report on Friday, March 18th. Needham & Company LLC cut their target price on Ayr Wellness from $28.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. Finally, Canaccord Genuity Group cut their target price on Ayr Wellness from C$57.00 to C$40.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.55.

Shares of OTCMKTS AYRWF traded down $0.06 during midday trading on Tuesday, hitting $8.38. 177,950 shares of the company’s stock were exchanged, compared to its average volume of 176,321. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.75 and a quick ratio of 1.13. Ayr Wellness has a twelve month low of $8.06 and a twelve month high of $31.87. The firm’s fifty day simple moving average is $12.22 and its 200-day simple moving average is $15.48.

Ayr Wellness (OTCMKTS:AYRWFGet Rating) last issued its earnings results on Thursday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Ayr Wellness had a negative return on equity of 6.15% and a negative net margin of 4.74%. The business had revenue of $111.77 million for the quarter, compared to analyst estimates of $105.55 million. As a group, equities research analysts forecast that Ayr Wellness will post -0.89 EPS for the current fiscal year.

About Ayr Wellness (Get Rating)

Ayr Wellness Inc, a vertically-integrated cannabis multi-state operator, cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. The company's cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies.

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