Hexo Corp (TSE:HEXO) Given Average Rating of “Buy” by Brokerages

Hexo Corp (TSE:HEXO) has received an average recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$9.59.

Several equities analysts have recently issued reports on the stock. CIBC lowered shares of Hexo from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$9.50 to C$8.50 in a report on Monday, June 17th. Desjardins set a C$14.00 target price on shares of Hexo and gave the company a “buy” rating in a research note on Friday, April 26th. AltaCorp Capital reiterated an “outperform” rating on shares of HEXO in a research note on Thursday, April 4th. Jefferies Financial Group boosted their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a C$10.00 target price on shares of Hexo in a report on Wednesday, April 17th.

Hexo stock traded up C$0.20 during trading hours on Wednesday, hitting C$6.53. 1,150,195 shares of the stock traded hands, compared to its average volume of 3,076,544. The business’s 50-day moving average price is C$7.76. The company has a current ratio of 5.62, a quick ratio of 4.05 and a debt-to-equity ratio of 7.80. The stock has a market capitalization of $1.12 billion and a P/E ratio of -36.80. Hexo has a one year low of C$3.98 and a one year high of C$11.29.

Hexo Company Profile

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

Further Reading: The primary rules of Elliott Wave theory

Analyst Recommendations for Hexo (TSE:HEXO)

Receive News & Ratings for Hexo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hexo and related companies with MarketBeat.com's FREE daily email newsletter.