Benchmark Trims Tilray (NASDAQ:TLRY) Target Price to $80.00

Tilray (NASDAQ:TLRY) had its target price cut by Benchmark from $200.00 to $80.00 in a research note released on Wednesday morning, Briefing.com Automated Import reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently weighed in on the company. Alliance Global Partners started coverage on Tilray in a research report on Monday, May 13th. They set a neutral rating and a $50.00 price target on the stock. Compass Point lowered their price target on Tilray from $41.00 to $38.00 and set a sell rating on the stock in a research report on Monday, June 17th. LADENBURG THALM/SH SH initiated coverage on Tilray in a report on Wednesday, July 17th. They set a neutral rating for the company. Zacks Investment Research upgraded Tilray from a hold rating to a buy rating and set a $48.00 price objective for the company in a report on Tuesday. Finally, Piper Jaffray Companies reduced their price objective on Tilray from $84.00 to $72.00 and set an overweight rating for the company in a report on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $67.24.

NASDAQ TLRY traded down $3.64 during trading on Wednesday, reaching $35.40. 1,806,031 shares of the company’s stock were exchanged, compared to its average volume of 862,142. The firm’s 50 day simple moving average is $44.04. The firm has a market capitalization of $4.13 billion and a PE ratio of -43.17. The company has a quick ratio of 2.06, a current ratio of 2.35 and a debt-to-equity ratio of 1.13. Tilray has a fifty-two week low of $26.11 and a fifty-two week high of $300.00.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $40.25 million. Tilray had a negative return on equity of 43.71% and a negative net margin of 159.09%. Tilray’s quarterly revenue was up 373.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. On average, analysts forecast that Tilray will post -0.92 earnings per share for the current year.

In other news, Director Christine St.Clare sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $50.01, for a total transaction of $200,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Lee Financial Co bought a new stake in shares of Tilray in the first quarter valued at approximately $25,000. Quantamental Technologies LLC bought a new stake in shares of Tilray in the first quarter valued at approximately $26,000. PNC Financial Services Group Inc. boosted its stake in shares of Tilray by 105.8% in the first quarter. PNC Financial Services Group Inc. now owns 463 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tilray in the second quarter valued at approximately $46,000. Finally, Synovus Financial Corp boosted its stake in shares of Tilray by 2,500.0% in the first quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock valued at $69,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 2.28% of the company’s stock.

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 is headquartered in Nanaimo, Canada.

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Analyst Recommendations for Tilray (NASDAQ:TLRY)

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