Canopy Growth (TSE:WEED) Rating Increased to Outperform at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Canopy Growth (TSE:WEED) from a sector perform rating to an outperform rating in a research note released on Tuesday,BayStreet.CA reports. The brokerage currently has C$1.40 price objective on the stock.

Separately, Sanford C. Bernstein cut their price objective 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$1.95.

Canopy Growth Stock Up 7.2%

Canopy Growth stock opened at C$1.48 on Tuesday. The firm’s fifty day simple moving average is C$1.55 and its 200-day simple moving average is C$1.73. The company has a current ratio of 5.34, a quick ratio of 2.32 and a debt-to-equity ratio of 35.93. Canopy Growth has a 1-year low of C$1.09 and a 1-year high of C$3.28. The company has a market capitalization of C$559.24 million, a P/E ratio of -0.80, a P/E/G ratio of -0.01 and a beta of 1.55.

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

Canopy Growth Company Profile

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.