In a report released today, Mark Smith from Lake Street reiterated a Buy rating on GrowGeneration (GRWG – Research Report), with a price target of $6.00. The company’s shares opened today at $3.53.
Smith covers the Consumer Goods sector, focusing on stocks such as Big 5 Sporting Goods, Clarus, and Polaris. According to TipRanks, Smith has an average return of 21.3% and a 49.40% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for GrowGeneration with a $5.00 average price target.
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Based on GrowGeneration’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $70.85 million and a GAAP net loss of $7.2 million. In comparison, last year the company earned a revenue of $116 million and had a net profit of $4.03 million
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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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