Hydrofarm Holdings Group (NASDAQ:HYFM) Releases Q1 2021 Earnings Guidance

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Hydrofarm Holdings Group (NASDAQ:HYFM) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of – for the period. The company issued revenue guidance of $109 million-$111 million, compared to the consensus revenue estimate of $104.89 million.

Shares of Hydrofarm Holdings Group stock traded down $1.35 during trading on Tuesday, hitting $64.04. The stock had a trading volume of 10,136 shares, compared to its average volume of 531,339. The company has a fifty day simple moving average of $60.73. Hydrofarm Holdings Group has a 12 month low of $41.59 and a 12 month high of $95.48.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its earnings results on Monday, March 29th. The company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.09). Equities analysts forecast that Hydrofarm Holdings Group will post -0.29 EPS for the current year.

HYFM has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Hydrofarm Holdings Group from a buy rating to a hold rating in a research note on Friday. JPMorgan Chase & Co. started coverage on Hydrofarm Holdings Group in a research note on Monday, January 4th. They set an overweight rating and a $63.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Hydrofarm Holdings Group from $88.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, March 31st. Truist raised their target price on Hydrofarm Holdings Group from $65.00 to $95.00 in a research note on Monday, February 22nd. Finally, Stifel Nicolaus began coverage on Hydrofarm Holdings Group in a research note on Monday, January 4th. They set a buy rating and a $65.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $73.40.

About Hydrofarm Holdings Group

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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Earnings History and Estimates for Hydrofarm Holdings Group (NASDAQ:HYFM)

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