Scotts Miracle-Gro (NYSE:SMG) Price Target Cut to $86.00

Scotts Miracle-Gro (NYSE:SMGGet Rating) had its price objective dropped by analysts at UBS Group from $92.00 to $86.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective indicates a potential upside of 7.14% from the stock’s current price.

Several other brokerages have also recently issued reports on SMG. Barclays cut Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their price target for the stock from $185.00 to $85.00 in a research note on Wednesday, June 8th. Stifel Nicolaus cut their price target on Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. StockNews.com downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Finally, Raymond James cut their price target on Scotts Miracle-Gro from $125.00 to $110.00 in a research note on Thursday, June 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.88.

Scotts Miracle-Gro Trading Down 2.3 %

NYSE SMG opened at $80.27 on Wednesday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 11.27 and a beta of 1.24. Scotts Miracle-Gro has a 52-week low of $72.58 and a 52-week high of $180.43. The firm has a 50-day moving average price of $85.09 and a 200 day moving average price of $109.80. The company has a quick ratio of 1.13, a current ratio of 2.21 and a debt-to-equity ratio of 3.44.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last issued its earnings results on Wednesday, August 3rd. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.28. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the company posted $3.98 earnings per share. The firm’s quarterly revenue was down 26.3% compared to the same quarter last year. Equities research analysts expect that Scotts Miracle-Gro will post 4.73 EPS for the current year.

Insider Buying and Selling

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.74, for a total value of $5,864,400.00. Following the sale, the chief executive officer now directly owns 261,816 shares of the company’s stock, valued at approximately $25,589,895.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total value of $1,722,350.00. Following the sale, the executive vice president now directly owns 9,760 shares of the company’s stock, valued at approximately $960,579.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Hagedorn sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.74, for a total value of $5,864,400.00. Following the completion of the transaction, the chief executive officer now owns 261,816 shares in the company, valued at $25,589,895.84. The disclosure for this sale can be found here. 27.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of large investors have recently modified their holdings of the company. Personal Capital Advisors Corp raised its holdings in shares of Scotts Miracle-Gro by 36.8% in the 2nd quarter. Personal Capital Advisors Corp now owns 377,295 shares of the basic materials company’s stock worth $29,803,000 after purchasing an additional 101,414 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in shares of Scotts Miracle-Gro by 13.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 59,267 shares of the basic materials company’s stock worth $4,681,000 after purchasing an additional 7,158 shares during the period. Fifth Third Bancorp raised its holdings in shares of Scotts Miracle-Gro by 28.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,543 shares of the basic materials company’s stock worth $991,000 after purchasing an additional 2,774 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Scotts Miracle-Gro by 22.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,941 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 727 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter worth about $363,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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