Oppenheimer Believes GrowGeneration (GRWG) Still Has Room to Grow

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 Thursday at $29.46, close to its 52-week high of $30.90.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 27.3% and a 78.0% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for GrowGeneration with a $32.40 average price target, representing an 11.7% upside. In a report issued on November 12, Craig-Hallum also maintained a Buy rating on the stock with a $35.00 price target.

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GrowGeneration’s market cap is currently $1.44B and has a P/E ratio of 616.20. The company has a Price to Book ratio of 15.18.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock.

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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.

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