GrowGeneration (NASDAQ:GRWG) Price Target Cut to $19.00

GrowGeneration (NASDAQ:GRWG) had its price target cut by equities researchers at Lake Street Capital from $44.00 to $19.00 in a research report issued to clients and investors on Thursday, The Fly reports. Lake Street Capital’s price objective suggests a potential upside of 102.56% from the stock’s current price.

GRWG has been the subject of a number of other research reports. Roth Capital lowered their price objective on GrowGeneration from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. Alliance Global Partners lowered their price objective on GrowGeneration from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. Wells Fargo & Company started coverage on GrowGeneration in a research note on Monday, December 6th. They issued an “equal weight” rating and a $18.00 target price for the company. Stifel Nicolaus lowered GrowGeneration from a “buy” rating to a “hold” rating and reduced their target price for the stock from $41.00 to $24.00 in a research note on Friday, November 12th. Finally, Zacks Investment Research lowered GrowGeneration from a “hold” rating to a “sell” rating in a research note on Monday, October 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, GrowGeneration presently has a consensus rating of “Hold” and an average target price of $26.83.

Shares of NASDAQ GRWG opened at $9.38 on Thursday. The business’s 50 day moving average price is $15.72 and its 200-day moving average price is $26.47. GrowGeneration has a fifty-two week low of $9.00 and a fifty-two week high of $67.75. The company has a market cap of $559.11 million, a price-to-earnings ratio of 30.26 and a beta of 2.65.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings data on Thursday, November 11th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). GrowGeneration had a return on equity of 5.24% and a net margin of 4.67%. The firm had revenue of $116.00 million during the quarter, compared to the consensus estimate of $115.28 million. During the same period last year, the company earned $0.06 EPS. Research analysts expect that GrowGeneration will post 0.29 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. acquired a new position in shares of GrowGeneration during the 3rd quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of GrowGeneration during the 2nd quarter worth approximately $29,000. Nisa Investment Advisors LLC acquired a new position in shares of GrowGeneration during the 2nd quarter worth approximately $37,000. IFP Advisors Inc boosted its holdings in shares of GrowGeneration by 41.3% during the 3rd quarter. IFP Advisors Inc now owns 1,652 shares of the company’s stock worth $42,000 after purchasing an additional 483 shares during the last quarter. Finally, TFO TDC LLC acquired a new position in shares of GrowGeneration during the 3rd quarter worth approximately $54,000. Institutional investors own 39.74% of the company’s stock.

About GrowGeneration

GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. It offers lighting fixtures, nutrients, seeds and growing media systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.

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