Jamieson Wellness (TSE:JWEL) Cut to "Hold" at Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded Jamieson Wellness to “Hold” from “Buy,” while raising its price target to C$45.75—implying only 0.39% upside from the prior close.
• Several other firms also reduced their ratings, leaving the stock with an overall “Hold” consensus from analysts and an average target price of C$46.43.
• Jamieson shares traded near their 52-week high at C$45.57, after the company reported quarterly EPS of C$0.46 and revenue of C$233.84 million.

Jamieson Wellness (TSE:JWEL - Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$45.75 price target on the stock, up from their prior price target of C$44.50. Canaccord Genuity Group's target price indicates a potential upside of 0.39% from the company's previous close.

Several other research firms have also recently weighed in on JWEL. TD cut Jamieson Wellness from a "buy" rating to a "hold" rating and raised their price target for the company from C$48.00 to C$49.00 in a report on Monday. Canadian Imperial Bank of Commerce downgraded Jamieson Wellness from an "outperformer" rating to a "tender" rating and increased their target price for the company from C$44.00 to C$45.75 in a research report on Friday. Stifel Nicolaus cut shares of Jamieson Wellness from a "buy" rating to a "hold" rating and boosted their price target for the stock from C$45.00 to C$45.75 in a research report on Friday. Finally, Royal Bank Of Canada downgraded shares of Jamieson Wellness from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$46.00 to C$45.75 in a research note on Monday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$46.43.

Jamieson Wellness Stock Performance

TSE:JWEL traded up C$0.09 during trading hours on Monday, reaching C$45.57. The company had a trading volume of 310,139 shares, compared to its average volume of 100,466. The firm has a market cap of C$1.89 billion, a price-to-earnings ratio of 26.34 and a beta of 1.48. The company has a current ratio of 3.41, a quick ratio of 1.08 and a debt-to-equity ratio of 93.69. The firm's 50 day moving average price is C$39.62 and its 200-day moving average price is C$36.77. Jamieson Wellness has a 52 week low of C$32.54 and a 52 week high of C$45.65.

Jamieson Wellness (TSE:JWEL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.46 EPS for the quarter. Jamieson Wellness had a return on equity of 15.93% and a net margin of 8.92%.The company had revenue of C$233.84 million during the quarter. On average, analysts forecast that Jamieson Wellness will post 2.1438892 EPS for the current year.

About Jamieson Wellness

Jamieson Wellness Inc is engaged in the manufacturing, distributing, and marketing of branded natural health products, including vitamins, minerals, and supplements. The company operates in two segments: The Jamieson brands and The Strategic Partners. The majority of its revenue comes from the Jamieson brand segment. Some of its brands are Jamieson, Progressive, Precision, and Iron Vegan. Geographically, most of its revenue is derived from the domestic market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source