Scotts Miracle-Gro (NYSE:SMG – Get Rating) had its price objective raised by research analysts at Raymond James from $56.00 to $92.00 in a report released on Thursday, The Fly reports. The firm currently has a "strong-buy" rating on the basic materials company's stock. Raymond James' price objective indicates a potential upside of 11.83% from the company's current price.
A number of other brokerages also recently issued reports on SMG. Barclays lifted their price target on Scotts Miracle-Gro from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company boosted their target price on Scotts Miracle-Gro from $50.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $80.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, November 3rd. Truist Financial reduced their target price on Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. Finally, Stifel Nicolaus lowered their target price on Scotts Miracle-Gro from $75.00 to $48.00 in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $75.14.
Get Scotts Miracle-Gro alerts:Scotts Miracle-Gro Trading Down 2.0 %
NYSE:SMG opened at $82.27 on Thursday. The firm has a market cap of $4.56 billion, a PE ratio of -10.02 and a beta of 1.68. The stock has a fifty day moving average price of $56.57 and a 200 day moving average price of $59.65. Scotts Miracle-Gro has a 12-month low of $39.06 and a 12-month high of $145.26. The company has a current ratio of 2.47, a quick ratio of 0.66 and a debt-to-equity ratio of 53.61.
Scotts Miracle-Gro (NYSE:SMG – Get Rating) last released its earnings results on Wednesday, February 1st. The basic materials company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.36) by $0.34. The firm had revenue of $526.60 million during the quarter, compared to analyst estimates of $502.44 million. Scotts Miracle-Gro had a positive return on equity of 55.54% and a negative net margin of 11.64%. Scotts Miracle-Gro's revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted ($0.88) earnings per share. Sell-side analysts anticipate that Scotts Miracle-Gro will post 3.61 earnings per share for the current fiscal year.Insider Buying and Selling at Scotts Miracle-Gro
In other news, CEO James Hagedorn sold 50,000 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the chief executive officer now owns 212,402 shares of the company's stock, valued at approximately $12,907,669.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Hagedorn Partnership, L.P. sold 77,691 shares of Scotts Miracle-Gro stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $57.59, for a total transaction of $4,474,224.69. Following the completion of the sale, the director now owns 14,472,222 shares in the company, valued at approximately $833,455,264.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Hagedorn sold 50,000 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the chief executive officer now owns 212,402 shares of the company's stock, valued at approximately $12,907,669.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,842 shares of company stock valued at $11,174,189. 27.28% of the stock is owned by company insiders.
Institutional Trading of Scotts Miracle-Gro
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management increased its position in Scotts Miracle-Gro by 2,575.0% during the 4th quarter. Spire Wealth Management now owns 535 shares of the basic materials company's stock worth $26,000 after purchasing an additional 515 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Scotts Miracle-Gro during the 1st quarter worth about $27,000. SRS Capital Advisors Inc. increased its position in Scotts Miracle-Gro by 208.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 379 shares of the basic materials company's stock worth $30,000 after purchasing an additional 256 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Scotts Miracle-Gro by 84.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 390 shares of the basic materials company's stock valued at $31,000 after buying an additional 178 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in Scotts Miracle-Gro in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 68.98% of the company's stock.
About Scotts Miracle-Gro
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Scotts Miracle-Gro Co engages in the manufacturing, marketing, and sale of products for lawn and garden care and indoor and hydroponic gardening. Its products and services include lawn care, gardening and landscape, hydroponic hardware and growing environments, lighting, controls, and marketing agreement.
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