Hydrofarm Holdings Group (NASDAQ:HYFM) Stock Rating Lowered by Zacks Investment Research


Hydrofarm Holdings Group (NASDAQ:HYFM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Hydrofarm Holdings Group Inc. is a distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture. Hydrofarm Holdings Group Inc. is based in PETALUMA, Calif. “

A number of other equities analysts have also recently commented on HYFM. UBS Group dropped their price objective on shares of Hydrofarm Holdings Group from $54.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, November 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hydrofarm Holdings Group from $67.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, November 9th. Truist dropped their price target on shares of Hydrofarm Holdings Group from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, September 28th. Truist Securities dropped their price target on shares of Hydrofarm Holdings Group from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, September 28th. Finally, Stifel Nicolaus dropped their price target on shares of Hydrofarm Holdings Group from $61.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, October 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.50.

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Shares of NASDAQ:HYFM opened at $27.69 on Wednesday. Hydrofarm Holdings Group has a 52 week low of $24.35 and a 52 week high of $95.48. The firm has a fifty day simple moving average of $33.38 and a two-hundred day simple moving average of $43.41.

Hydrofarm Holdings Group (NASDAQ:HYFM) last issued its quarterly earnings data on Thursday, November 11th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The business had revenue of $123.82 million for the quarter, compared to analyst estimates of $122.72 million. As a group, research analysts expect that Hydrofarm Holdings Group will post 0.63 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in HYFM. Wasatch Advisors Inc. lifted its holdings in Hydrofarm Holdings Group by 835.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,471,822 shares of the company’s stock valued at $146,109,000 after buying an additional 2,207,700 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Hydrofarm Holdings Group by 238.2% in the 3rd quarter. BlackRock Inc. now owns 2,611,362 shares of the company’s stock valued at $98,840,000 after purchasing an additional 1,839,225 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hydrofarm Holdings Group by 164.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,964,927 shares of the company’s stock valued at $116,147,000 after purchasing an additional 1,223,000 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Hydrofarm Holdings Group by 55.1% in the 3rd quarter. Alliancebernstein L.P. now owns 2,219,732 shares of the company’s stock valued at $84,017,000 after purchasing an additional 788,155 shares in the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in shares of Hydrofarm Holdings Group in the 2nd quarter valued at about $41,458,000. Institutional investors own 46.55% of the company’s stock.

Hydrofarm Holdings Group Company Profile

Hydrofarm Holdings Group, Inc, together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment; and distributes CEA equipment and supplies, which include grow light systems; heating, ventilation, and air conditioning systems; humidity and carbon dioxide monitors and controllers; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media made from soil, rock wool or coconut fiber.

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Analyst Recommendations for Hydrofarm Holdings Group (NASDAQ:HYFM)

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