ATB Capital Lowers Canopy Growth (TSE:WEED) Price Target to C$1.40

Canopy Growth (TSE:WEED) had its price objective dropped by investment analysts at ATB Capital from C$1.60 to C$1.40 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “underperform” rating on the stock. ATB Capital’s price objective points to a potential downside of 41.67% from the stock’s current price.

Separately, Benchmark raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of C$1.45.

Canopy Growth Price Performance

Shares of WEED opened at C$2.40 on Thursday. The company has a debt-to-equity ratio of 120.38, a current ratio of 1.39 and a quick ratio of 2.32. The stock has a fifty day moving average price of C$1.74 and a 200 day moving average price of C$1.81. The company has a market cap of C$821.27 million, a P/E ratio of -0.90, a PEG ratio of -0.01 and a beta of 2.45. Canopy Growth has a 12 month low of C$1.09 and a 12 month high of C$4.52.

Canopy Growth (TSE:WEED) last issued its quarterly earnings results on Friday, November 7th. The company reported C($0.01) EPS for the quarter. The business had revenue of C$66.68 million for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. On average, research analysts forecast that Canopy Growth will post -0.69 earnings per share for the current year.

About Canopy Growth

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.