GrowGeneration (NASDAQ:GRWG) Earns Outperform Rating from Analysts at Northland Securities

Northland Securities began coverage on shares of GrowGeneration (NASDAQ:GRWG) in a research note released on Monday morning, Price Targets.com reports. The firm issued an outperform rating and a $55.00 price target on the stock.

Other analysts have also issued reports about the company. Alliance Global Partners lowered GrowGeneration from a buy rating to a neutral rating and boosted their price objective for the stock from $45.00 to $54.00 in a report on Tuesday, January 12th. Stifel Nicolaus increased their price target on GrowGeneration from $40.00 to $58.00 in a research report on Wednesday, January 13th. LADENBURG THALM/SH SH downgraded shares of GrowGeneration from a buy rating to a neutral rating in a report on Tuesday, January 12th. Roth Capital downgraded shares of GrowGeneration from a buy rating to a neutral rating and increased their target price for the company from $27.00 to $45.00 in a report on Wednesday, January 13th. Finally, Zacks Investment Research cut shares of GrowGeneration from a buy rating to a hold rating in a report on Friday, February 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GrowGeneration presently has an average rating of Buy and an average target price of $51.56.

Shares of NASDAQ:GRWG opened at $36.57 on Monday. GrowGeneration has a 52 week low of $4.53 and a 52 week high of $67.75. The firm has a market cap of $2.14 billion, a PE ratio of 731.45 and a beta of 3.09. The firm’s fifty day moving average is $46.55 and its 200-day moving average is $42.52.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings data on Wednesday, May 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. The company had revenue of $90.00 million for the quarter, compared to analysts’ expectations of $87.30 million. GrowGeneration had a net margin of 2.14% and a return on equity of 4.68%. The business’s revenue for the quarter was up 172.7% compared to the same quarter last year. Research analysts anticipate that GrowGeneration will post 0.15 earnings per share for the current fiscal year.

In related news, Director Sean Stiefel sold 8,305 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $47.58, for a total transaction of $395,151.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.57% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of GrowGeneration by 4.1% in the first quarter. Northern Trust Corp now owns 460,067 shares of the company’s stock worth $22,860,000 after buying an additional 18,172 shares during the period. Geode Capital Management LLC increased its holdings in GrowGeneration by 16.4% during the 1st quarter. Geode Capital Management LLC now owns 742,881 shares of the company’s stock valued at $36,913,000 after purchasing an additional 104,691 shares during the period. Lisanti Capital Growth LLC bought a new position in GrowGeneration during the 1st quarter valued at approximately $4,834,000. Navellier & Associates Inc lifted its holdings in GrowGeneration by 130.6% in the 1st quarter. Navellier & Associates Inc now owns 28,198 shares of the company’s stock worth $1,401,000 after buying an additional 15,968 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of GrowGeneration by 7.1% in the 1st quarter. CIBC Private Wealth Group LLC now owns 32,140 shares of the company’s stock worth $1,597,000 after buying an additional 2,140 shares during the last quarter. Hedge funds and other institutional investors own 51.31% of the company’s stock.

GrowGeneration Company Profile

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.

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Analyst Recommendations for GrowGeneration (NASDAQ:GRWG)

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