In a report released today, Brian Nagel from Oppenheimer assigned a Buy rating to GrowGeneration (GRWG), with a price target of $40.00. The company’s shares closed last Wednesday at $37.57.
According to TipRanks.com, Nagel is a top 25 analyst with an average return of 30.5% and a 79.7% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.
Currently, the analyst consensus on GrowGeneration is a Strong Buy with an average price target of $36.40, which is a 3.3% upside from current levels. In a report issued on December 1, Lake Street also maintained a Buy rating on the stock with a $40.00 price target.
See today’s analyst top recommended stocks >>
Based on GrowGeneration’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $55.01 million and net profit of $3.34 million. In comparison, last year the company earned revenue of $21.78 million and had a net profit of $1.05 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GRWG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
GrowGeneration Corp. retails hydroponic and organic specialty gardening products. The company owns and operates a chain retail hydroponic and gardening stores and an online e-commerce store, HeavyGardens. Its stores sells various products, including organic nutrients and soils, advanced lighting technology, hydroponic and aquaponic equipment, and other products needed to grow indoors and outdoors. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.
