Zacks: Tilray Inc (TLRY) Given Average Rating of “Buy” by Analysts

Shares of Tilray Inc (NASDAQ:TLRY) have earned a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokerages have set a 12-month consensus price target of $58.00 for the company and are expecting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also assigned Tilray an industry rank of 105 out of 255 based on the ratings given to related companies.

TLRY has been the topic of a number of research reports. Roth Capital downgraded Tilray from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Cowen initiated coverage on Tilray in a research report on Monday, August 13th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Northland Securities downgraded Tilray from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 6th.

In related news, CRO Edward Wood Pastorius, Jr. acquired 14,705 shares of Tilray stock in a transaction dated Monday, July 23rd. The shares were purchased at an average cost of $17.00 per share, with a total value of $249,985.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brendan Kennedy acquired 14,706 shares of Tilray stock in a transaction dated Monday, July 23rd. The shares were bought at an average cost of $17.00 per share, for a total transaction of $250,002.00. The disclosure for this purchase can be found here.

Shares of TLRY stock traded up $7.42 on Friday, reaching $115.30. The company’s stock had a trading volume of 169,031 shares, compared to its average volume of 15,241,875. Tilray has a 12-month low of $20.10 and a 12-month high of $300.00.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Tuesday, August 28th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.08). The company had revenue of $9.70 million during the quarter, compared to the consensus estimate of $9.01 million. The company’s quarterly revenue was up 94.0% on a year-over-year basis. analysts predict that Tilray will post -0.45 EPS for the current year.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc was incorporated in 2018 and is headquartered in Nanaimo, Canada.

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