Zacks Investment Research Upgrades Aphria (NYSE:APHA) to “Buy”

Zacks Investment Research upgraded shares of Aphria (NYSE:APHA) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The brokerage currently has $8.00 target price on the stock.

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. “

Several other research analysts have also recently commented on the company. Jefferies Financial Group began coverage on Aphria in a research report on Friday, May 24th. They set a buy rating and a $11.00 price target for the company. CIBC cut Aphria from a neutral rating to a sector underperform rating in a research report on Friday, July 26th. Clarus Securities began coverage on Aphria in a research report on Tuesday, April 16th. They set a buy rating and a $22.75 price target for the company. Finally, ValuEngine raised Aphria from a hold rating to a buy rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $13.63.

Shares of NYSE APHA opened at $6.34 on Wednesday. The company’s 50 day moving average is $6.51. Aphria has a 52 week low of $3.75 and a 52 week high of $16.86.

Aphria (NYSE:APHA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $128.60 million for the quarter, compared to analyst estimates of $99.26 million. Aphria’s revenue was up 971.7% compared to the same quarter last year. Equities analysts predict that Aphria will post 0.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its position in shares of Aphria by 45.3% in the first quarter. Advisory Services Network LLC now owns 5,625 shares of the company’s stock valued at $52,000 after buying an additional 1,755 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Aphria by 56.9% in the second quarter. Synovus Financial Corp now owns 5,514 shares of the company’s stock valued at $39,000 after buying an additional 2,000 shares during the last quarter. Shell Asset Management Co. lifted its position in shares of Aphria by 17.9% in the first quarter. Shell Asset Management Co. now owns 17,723 shares of the company’s stock valued at $165,000 after buying an additional 2,687 shares during the last quarter. Creative Planning lifted its position in shares of Aphria by 6.4% in the first quarter. Creative Planning now owns 72,342 shares of the company’s stock valued at $674,000 after buying an additional 4,351 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its position in shares of Aphria by 15.1% in the first quarter. Cetera Advisor Networks LLC now owns 35,717 shares of the company’s stock valued at $340,000 after buying an additional 4,684 shares during the last quarter. 8.54% of the stock is owned by institutional investors.

About Aphria

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.

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Analyst Recommendations for Aphria (NYSE:APHA)

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