Scotts Miracle-Gro Company (The) (NYSE:SMG) Given Average Rating of “Buy” by Brokerages
Scotts Miracle-Gro Company (The) (NYSE:SMG) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $95.00.
Separately, Zacks Investment Research downgraded Scotts Miracle-Gro Company (The) from a “buy” rating to a “hold” rating in a research report on Thursday, March 16th.
In related news, CFO Thomas Randal Coleman sold 4,265 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $89.84, for a total value of $383,167.60. Following the sale, the chief financial officer now directly owns 19,202 shares of the company’s stock, valued at approximately $1,725,107.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 4,259 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $89.46, for a total transaction of $381,010.14. Following the completion of the sale, the insider now directly owns 15,771,259 shares in the company, valued at $1,410,896,830.14. The disclosure for this sale can be found here. Insiders sold a total of 63,854 shares of company stock valued at $5,662,079 in the last 90 days. 28.16% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new stake in shares of Scotts Miracle-Gro Company (The) during the first quarter valued at approximately $103,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro Company (The) during the first quarter worth about $121,000. Glen Harbor Capital Management LLC boosted its stake in shares of Scotts Miracle-Gro Company (The) by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,392 shares of the basic materials company’s stock worth $130,000 after buying an additional 32 shares during the last quarter. Creative Planning boosted its stake in shares of Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares during the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Scotts Miracle-Gro Company (The) during the first quarter worth about $149,000. 68.05% of the stock is currently owned by hedge funds and other institutional investors.
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Scotts Miracle-Gro Company (NYSE:SMG) traded up 1.14% during midday trading on Tuesday, reaching $92.07. The company’s stock had a trading volume of 390,838 shares. The stock’s 50-day moving average price is $87.46 and its 200-day moving average price is $91.84. Scotts Miracle-Gro Company has a 12 month low of $73.06 and a 12 month high of $98.82. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 19.74 and a beta of 0.39.
Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.93 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.28 billion. Scotts Miracle-Gro Company (The) had a net margin of 10.23% and a return on equity of 31.76%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.15 earnings per share. Analysts predict that Scotts Miracle-Gro Company will post $4.12 EPS for the current year.
About Scotts Miracle-Gro Company (The)
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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