The Scotts Miracle-Gro Company (NYSE:SMG) Receives $73.00 Average Target Price from Brokerages

The Scotts Miracle-Gro Company (NYSE:SMG) has received an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $73.00.

Several brokerages recently issued reports on SMG. Wells Fargo & Company increased their price objective on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $67.00 in a research note on Thursday, March 26th. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, UBS Group raised their price target on shares of Scotts Miracle-Gro from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th.

Scotts Miracle-Gro Stock Down 1.2%

Shares of NYSE:SMG opened at $68.49 on Friday. The company’s fifty day moving average is $63.08 and its two-hundred day moving average is $63.79. The company has a market cap of $3.98 billion, a P/E ratio of 38.27 and a beta of 1.81. Scotts Miracle-Gro has a 12-month low of $52.00 and a 12-month high of $75.34.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, topping the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm posted $3.98 earnings per share. Scotts Miracle-Gro’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Scotts Miracle-Gro will post 4.3 earnings per share for the current year.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. Wedge Capital Management L L P NC boosted its stake in shares of Scotts Miracle-Gro by 13.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 41,952 shares of the basic materials company’s stock valued at $2,857,000 after buying an additional 4,843 shares during the period. Abound Wealth Management grew its holdings in shares of Scotts Miracle-Gro by 49.6% during the 2nd quarter. Abound Wealth Management now owns 3,582 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 1,187 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Scotts Miracle-Gro by 394.1% in the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 599 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Scotts Miracle-Gro by 7.3% in the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 218 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Scotts Miracle-Gro by 1,130.7% during the second quarter. Versant Capital Management Inc now owns 1,686 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 1,549 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.