Stocks

Why Hydrofarm Holdings (HYFM) Stock Might be a Great Pick

One stock that might be an intriguing choice for investors right now is Hydrofarm Holdings Group, Inc. HYFM. This is because this security in the Agriculture - Products space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Agriculture - Products space as it currently has a Zacks Industry Rank of 44 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Hydrofarm Holdings is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Hydrofarm Holdings Group, Inc. Price and Consensus

Hydrofarm Holdings Group, Inc. Price and Consensus

Hydrofarm Holdings Group, Inc. price-consensus-chart | Hydrofarm Holdings Group, Inc. Quote

In fact, over the past month, current quarter estimates have risen from 10 cents per share to 12 cents per share, while current year estimates have risen from 48 cents per share to 65 cents per share. This has helped HYFM to earn a Zacks Rank #3 (Hold), further underscoring the company’s solid position.  You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Hydrofarm Holdings. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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