GrowGeneration (NASDAQ:GRWG) Price Target Cut to $20.00

GrowGeneration (NASDAQ:GRWG) had its target price dropped by analysts at Alliance Global Partners from $35.00 to $20.00 in a report released on Thursday, The Fly reports. Alliance Global Partners’ target price suggests a potential upside of 113.22% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Lake Street Capital lowered their target price on GrowGeneration from $44.00 to $19.00 in a research note on Thursday. Wells Fargo & Company assumed coverage on GrowGeneration in a research report on Monday, December 6th. They issued an “equal weight” rating and a $18.00 target price on the stock. Craig Hallum lowered their price target on GrowGeneration from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, November 15th. Zacks Investment Research cut GrowGeneration from a “hold” rating to a “sell” rating in a report on Monday, October 18th. Finally, Stifel Nicolaus cut GrowGeneration from a “buy” rating to a “hold” rating and decreased their target price for the stock from $41.00 to $24.00 in a research report on Friday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, GrowGeneration presently has an average rating of “Hold” and a consensus target price of $26.83.

Shares of GRWG opened at $9.38 on Thursday. The stock has a 50-day simple moving average of $15.72 and a 200-day simple moving average of $26.47. The stock has a market capitalization of $559.11 million, a PE ratio of 30.26 and a beta of 2.65. GrowGeneration has a 1 year low of $9.00 and a 1 year high of $67.75.

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

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

GrowGeneration Company Profile

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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