CannTrust (CTST) Raised to Buy at Bloom Burton

CannTrust (NYSE:CTST) was upgraded by Bloom Burton from an “accumulate” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports.

Separately, Zacks Investment Research cut CannTrust from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

NYSE CTST opened at C$6.21 on Wednesday. The company has a current ratio of 7.65, a quick ratio of 5.54 and a debt-to-equity ratio of 0.06. The firm has a market cap of $642.29 million, a P/E ratio of -56.45 and a beta of 4.05. CannTrust has a fifty-two week low of C$4.35 and a fifty-two week high of C$11.97.

CannTrust (NYSE:CTST) last posted its quarterly earnings results on Tuesday, May 14th. The company reported C$0.09 EPS for the quarter, beating the Zacks’ consensus estimate of C($0.05) by C$0.14. The business had revenue of C$16.85 million for the quarter, compared to analysts’ expectations of C$17.00 million. CannTrust had a negative return on equity of 7.34% and a negative net margin of 28.09%. The business’s quarterly revenue was up 114.9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. On average, equities research analysts anticipate that CannTrust will post -0.01 EPS for the current year.

A number of large investors have recently bought and sold shares of CTST. The Manufacturers Life Insurance Company bought a new stake in CannTrust during the first quarter valued at about $11,874,000. JW Asset Management LLC bought a new stake in CannTrust during the first quarter valued at about $10,863,000. Morgan Stanley bought a new stake in CannTrust during the first quarter valued at about $8,396,000. Davis Rea LTD. bought a new stake in CannTrust during the first quarter valued at about $3,846,000. Finally, Toronto Dominion Bank bought a new stake in CannTrust during the first quarter valued at about $2,025,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

CannTrust Company Profile

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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