Cresco Labs Inc. (OTCMKTS:CRLBF) Receives $3.00 Average Price Target from Brokerages

Cresco Labs Inc. (OTCMKTS:CRLBF) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.00.

Several equities analysts recently issued reports on the company. Cormark raised Cresco Labs from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 17th. Atb Cap Markets downgraded Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th.

Cresco Labs Price Performance

Shares of CRLBF opened at $0.77 on Friday. Cresco Labs has a fifty-two week low of $0.52 and a fifty-two week high of $2.60. The firm’s 50-day simple moving average is $0.85 and its two-hundred day simple moving average is $1.15. The stock has a market cap of $375.87 million, a PE ratio of -3.85 and a beta of 1.79. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings results on Friday, March 14th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $176.00 million for the quarter, compared to the consensus estimate of $172.10 million. Cresco Labs had a negative return on equity of 16.52% and a negative net margin of 9.15%. Analysts anticipate that Cresco Labs will post -0.2 earnings per share for the current fiscal year.

About Cresco Labs

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.