Scotts Miracle-Gro (NYSE:SMG) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Bank of America upgraded shares of Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price target for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reduced their price target on shares of Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Scotts Miracle-Gro has a consensus rating of “Hold” and an average target price of $85.00.
NYSE:SMG traded up $4.87 during trading hours on Wednesday, reaching $75.77. The company had a trading volume of 1,580,451 shares, compared to its average volume of 636,651. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 3.76 and a beta of 0.42. Scotts Miracle-Gro has a twelve month low of $65.20 and a twelve month high of $110.12.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). The company had revenue of $434.00 million during the quarter, compared to analyst estimates of $441.10 million. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Equities analysts predict that Scotts Miracle-Gro will post 3.77 earnings per share for the current fiscal year.
In other news, Director Nancy G. Mistretta sold 6,300 shares of Scotts Miracle-Gro stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $76.93, for a total transaction of $484,659.00. Following the completion of the transaction, the director now directly owns 20,824 shares in the company, valued at $1,601,990.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.14% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Scotts Miracle-Gro during the second quarter valued at about $112,000. Stratos Wealth Partners LTD. purchased a new position in Scotts Miracle-Gro during the third quarter worth about $145,000. Atria Investments LLC purchased a new position in Scotts Miracle-Gro during the second quarter worth about $211,000. Outfitter Advisors LTD. purchased a new position in Scotts Miracle-Gro during the second quarter worth about $223,000. Finally, Stephens Inc. AR purchased a new position in Scotts Miracle-Gro during the second quarter worth about $256,000. Hedge funds and other institutional investors own 65.21% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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