Zacks Investment Research Upgrades KushCo (OTCMKTS:KSHB) to Buy

Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $5.75 price target on the stock.

According to Zacks, “KushCo Holdings Inc. is the parent company to a diverse group of business units primarily in the cannabis, CBD and other related industries. KushCo Holdings’ subsidiaries provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving customer base. The company’s brands include Kush Bottles, a sales platform distributor of packaging, supplies, and accessories. Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector. Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions. KushCo Holdings Inc., formerly known as Kush Bottles Inc., is headquartered in Garden Grove, California. “

KSHB has been the topic of several other research reports. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Roth Capital started coverage on KushCo in a report on Thursday, June 6th. They issued a buy rating and a $8.00 price objective for the company. Compass Point started coverage on Randsburg International Gold in a report on Monday, June 10th. They issued a buy rating for the company. Northland Securities set a $9.00 price objective on KushCo and gave the company a buy rating in a report on Friday, April 12th. Finally, Benchmark started coverage on KushCo in a report on Wednesday, June 26th. They issued a buy rating and a $7.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $7.91.

KushCo stock opened at $5.00 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.28 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $444.20 million, a price-to-earnings ratio of -31.25 and a beta of 1.71. The business has a fifty day simple moving average of $4.67. KushCo has a 52 week low of $3.76 and a 52 week high of $7.20.

KushCo (OTCMKTS:KSHB) last posted its quarterly earnings data on Tuesday, July 9th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $41.50 million for the quarter, compared to analyst estimates of $40.42 million. KushCo had a negative return on equity of 22.31% and a negative net margin of 17.36%. The business’s revenue was up 221.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, equities analysts forecast that KushCo will post -0.45 EPS for the current year.

In related news, Chairman Nicholas Kovacevich sold 200,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $5.64, for a total value of $1,128,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.50% of the company’s stock.

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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