Concordia International Corp. (CXRX) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) from a hold rating to a buy rating in a research report released on Monday morning.
Separately, Zacks Investment Research cut shares of Concordia International Corp. from a hold rating to a strong sell rating in a research note on Thursday, August 17th. Six equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Sell and an average target price of $8.00.
Concordia International Corp. (CXRX) traded down 0.79% during midday trading on Monday, hitting $1.26. 39,883 shares of the stock traded hands. The firm’s market cap is $64.44 million. The company has a 50-day moving average price of $1.33 and a 200-day moving average price of $1.49. Concordia International Corp. has a 1-year low of $1.09 and a 1-year high of $5.55.
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last posted its earnings results on Friday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The firm had revenue of $160.80 million during the quarter, compared to analysts’ expectations of $160.92 million. Concordia International Corp. had a negative net margin of 269.97% and a negative return on equity of 83.96%. The company’s revenue was down 30.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. Analysts predict that Concordia International Corp. will post $0.66 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC increased its position in Concordia International Corp. by 363.8% during the second quarter. Virtu KCG Holdings LLC now owns 78,635 shares of the company’s stock worth $123,000 after acquiring an additional 61,679 shares during the period. FMR LLC bought a new stake in Concordia International Corp. in the 1st quarter valued at $108,000. Canada Pension Plan Investment Board bought a new stake in Concordia International Corp. in the 2nd quarter valued at $124,000. JPMorgan Chase & Co. increased its holdings in Concordia International Corp. by 290.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 142,919 shares of the company’s stock valued at $223,000 after buying an additional 106,290 shares during the period. Finally, Morgan Stanley increased its holdings in Concordia International Corp. by 467.8% in the 1st quarter. Morgan Stanley now owns 1,012,978 shares of the company’s stock valued at $1,651,000 after buying an additional 834,576 shares during the period. 9.13% of the stock is currently owned by institutional investors and hedge funds.
About Concordia International Corp.
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