CannTrust (NYSE:CTST) Stock Rating Lowered by Bloom Burton

CannTrust (NYSE:CTST) was downgraded by equities researchers at Bloom Burton from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

CTST has been the subject of a number of other reports. Bank of America reaffirmed a “sell” rating on shares of Deutsche Bank in a research note on Monday. Paradigm Capital restated a “buy” rating on shares of CannTrust in a research note on Thursday, May 23rd. BMO Capital Markets upgraded shares of Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Eight Capital downgraded shares of CannTrust from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Citigroup set a $95.00 price objective on shares of iRobot and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of C$7.94.

NYSE CTST traded down C$0.36 on Wednesday, reaching C$2.76. The company had a trading volume of 3,405,128 shares, compared to its average volume of 3,684,529. The firm has a market cap of $446.26 million, a price-to-earnings ratio of -25.05 and a beta of 3.49. The company has a quick ratio of 3.38, a current ratio of 5.64 and a debt-to-equity ratio of 0.01. CannTrust has a 1-year low of C$2.69 and a 1-year high of C$11.97. The stock’s fifty day moving average price is C$5.07.

CannTrust (NYSE:CTST) last announced its earnings results on Tuesday, May 14th. The company reported C$0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.14. The firm had revenue of C$16.85 million during the quarter, compared to analyst estimates of C$17.00 million. CannTrust had a negative net margin of 22.33% and a negative return on equity of 6.69%. The company’s revenue for the quarter was up 114.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. Research analysts anticipate that CannTrust will post -0.03 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. JW Asset Management LLC acquired a new position in shares of CannTrust during the 1st quarter worth about $10,863,000. Davis Rea LTD. raised its holdings in shares of CannTrust by 7.4% in the 2nd quarter. Davis Rea LTD. now owns 532,785 shares of the company’s stock valued at $2,669,000 after purchasing an additional 36,650 shares during the period. Toronto Dominion Bank bought a new stake in shares of CannTrust in the 1st quarter valued at about $2,025,000. Legacy Advisors LLC bought a new stake in shares of CannTrust in the 1st quarter valued at about $1,555,000. Finally, CIBC Asset Management Inc bought a new stake in shares of CannTrust in the 1st quarter valued at about $1,182,000. Institutional investors own 5.96% of the company’s stock.

About CannTrust

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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Analyst Recommendations for CannTrust (NYSE:CTST)

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