Trulieve Cannabis (NYSE:TRLV) Earns Overweight Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its “overweight” rating on Trulieve Cannabis and maintained a $15 price target, implying 33.51% upside from the prior close.
• Analyst views remain mixed: Trulieve has received Buy, Hold and Sell ratings, resulting in a consensus rating of “Hold” and a $15 consensus target price.
• Trulieve shares rose 9.3% to $11.23, while the company’s latest quarterly results beat expectations with $0.11 in EPS versus $0.06 forecast and $271 million in revenue.

Trulieve Cannabis (NYSE:TRLV - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $15.00 price target on the stock. Cantor Fitzgerald's target price suggests a potential upside of 33.51% from the stock's previous close.

Several other research firms have also weighed in on TRLV. Wall Street Zen lowered shares of Trulieve Cannabis from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Trulieve Cannabis in a report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.00.

Trulieve Cannabis Stock Up 9.3%

Shares of TRLV stock traded up $0.95 on Monday, reaching $11.23. 958,985 shares of the stock were exchanged, compared to its average volume of 965,247. The stock has a market cap of $2.16 billion and a PE ratio of 101.59. The company has a current ratio of 5.94, a quick ratio of 3.98 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average price is $11.19. Trulieve Cannabis has a 1-year low of $4.62 and a 1-year high of $13.28.

Trulieve Cannabis (NYSE:TRLV - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Trulieve Cannabis had a negative net margin of 41.55% and a negative return on equity of 4.24%. The firm had revenue of $271.00 million for the quarter, compared to analyst estimates of $268.82 million. On average, equities research analysts predict that Trulieve Cannabis will post 0.31 EPS for the current fiscal year.

Institutional Trading of Trulieve Cannabis

A number of hedge funds have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new stake in Trulieve Cannabis during the 3rd quarter valued at $770,000. Partners Wealth Management LLC acquired a new position in Trulieve Cannabis in the 3rd quarter worth $504,000. Commonwealth Equity Services LLC acquired a new position in Trulieve Cannabis in the 3rd quarter worth $242,000. Marion Wealth Management purchased a new position in Trulieve Cannabis in the 3rd quarter valued at about $109,000. Finally, PFS Partners LLC purchased a new position in Trulieve Cannabis in the 3rd quarter valued at about $33,000.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes and sells medical and adult-use cannabis products. Its offerings include flower, pre-rolls, concentrates, vaporizers, edibles, tinctures, capsules and topical products, sold through retail dispensaries and other approved channels under brands such as Trulieve, Cultivar Collection, Muse, Roll One and Alchemy.

Founded in 2015, Trulieve initially built its business around Florida's medical cannabis market and later expanded into additional U.S.

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