Aphria (NYSE:APHA) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Aphria (NYSE:APHA) from a strong-buy rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Aphria Inc. produces, supplies and sells medical cannabis primarily in Canada. The company offers sativa, indica and hybrid medical marijuana products, as well as cannabis oils. Aphria Inc. is headquartered in Leamington, Canada. “

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Aphria in a report on Tuesday, November 5th. They set an overweight rating and a $10.40 price target on the stock. CIBC reaffirmed a sell rating and set a $6.50 price target on shares of Aphria in a report on Wednesday, October 16th. Pi Financial set a $9.00 price target on shares of Aphria and gave the company a buy rating in a report on Tuesday, October 15th. Jefferies Financial Group set a $8.30 price target on shares of Aphria and gave the company a buy rating in a report on Tuesday, October 15th. Finally, ValuEngine downgraded shares of Aphria from a buy rating to a hold rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Aphria currently has an average rating of Buy and an average price target of $12.03.

NYSE:APHA opened at $4.76 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of -43.27 and a beta of 2.78. Aphria has a fifty-two week low of $3.76 and a fifty-two week high of $10.95. The firm has a 50-day simple moving average of $4.89 and a two-hundred day simple moving average of $5.68.

Aphria (NYSE:APHA) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. The company had revenue of $126.10 million for the quarter, compared to analysts’ expectations of $131.15 million. The firm’s revenue was up 848.1% on a year-over-year basis. Sell-side analysts anticipate that Aphria will post 0.06 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in APHA. Tower Research Capital LLC TRC boosted its holdings in shares of Aphria by 76.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,248 shares of the company’s stock worth $44,000 after buying an additional 2,698 shares during the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Aphria in the third quarter worth approximately $57,000. BB&T Securities LLC purchased a new position in shares of Aphria in the second quarter worth approximately $74,000. Wedbush Securities Inc. boosted its holdings in shares of Aphria by 40.6% in the third quarter. Wedbush Securities Inc. now owns 15,070 shares of the company’s stock worth $78,000 after buying an additional 4,350 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new position in shares of Aphria in the second quarter worth approximately $83,000. 9.60% of the stock is currently owned by hedge funds and other institutional investors.

Aphria Company Profile

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

Further Reading: Cash Flow

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