GrowGeneration (NASDAQ:GRWG) had its price target lifted by Alliance Global Partners from $17.00 to $22.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Other research analysts have also recently issued research reports about the company. Roth Capital boosted their price target on GrowGeneration from $14.00 to $20.00 and gave the stock a buy rating in a research note on Friday, September 18th. Lake Street Capital increased their price target on GrowGeneration from $7.00 to $9.00 and gave the company a positive rating in a research note on Friday, July 17th. BidaskClub raised GrowGeneration from a buy rating to a strong-buy rating in a research note on Saturday, October 10th. Oppenheimer increased their price target on GrowGeneration from $15.00 to $25.00 and gave the company an outperform rating in a research note on Friday, August 28th. Finally, Zacks Investment Research lowered GrowGeneration from a strong-buy rating to a hold rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $16.14.
Shares of NASDAQ GRWG opened at $20.62 on Wednesday. GrowGeneration has a 1-year low of $2.62 and a 1-year high of $22.88. The business has a 50-day moving average of $16.29 and a 200-day moving average of $12.82. The company has a market capitalization of $983.12 million, a price-to-earnings ratio of 1,031.52 and a beta of 2.32.
GrowGeneration (NASDAQ:GRWG) last issued its earnings results on Thursday, August 13th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. GrowGeneration had a return on equity of 4.44% and a net margin of 0.86%. The company had revenue of $43.45 million during the quarter, compared to the consensus estimate of $36.67 million. Sell-side analysts expect that GrowGeneration will post 0.15 earnings per share for the current fiscal year.
In other news, CEO Darren Lampert sold 125,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $16.53, for a total value of $2,066,250.00. Following the completion of the sale, the chief executive officer now owns 1,238,914 shares in the company, valued at $20,479,248.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Monty R. Lamirato sold 17,500 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $19.61, for a total value of $343,175.00. Following the completion of the sale, the chief financial officer now owns 84,987 shares of the company’s stock, valued at approximately $1,666,595.07. The disclosure for this sale can be found here. Insiders sold 235,500 shares of company stock valued at $4,212,695 in the last 90 days. Corporate insiders own 13.57% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new stake in shares of GrowGeneration in the third quarter valued at $25,000. Kessler Investment Group LLC acquired a new stake in GrowGeneration during the 3rd quarter worth $116,000. Strs Ohio acquired a new stake in GrowGeneration during the 2nd quarter worth $50,000. Citigroup Inc. grew its holdings in GrowGeneration by 1,349.8% during the 1st quarter. Citigroup Inc. now owns 9,424 shares of the company’s stock worth $36,000 after acquiring an additional 8,774 shares during the period. Finally, American International Group Inc. acquired a new stake in GrowGeneration during the 2nd quarter worth $120,000. Institutional investors own 37.18% 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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