The Scotts Miracle-Gro (NYSE:SMG) had its target price cut by equities researchers at Raymond James from $230.00 to $200.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “strong-buy” rating on the basic materials company’s stock. Raymond James’ target price would indicate a potential upside of 38.17% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Berenberg Bank restated a “buy” rating and issued a $257.00 price target on shares of The Scotts Miracle-Gro in a research note on Wednesday, September 1st. Truist dropped their price target on shares of The Scotts Miracle-Gro from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 12th. UBS Group started coverage on shares of The Scotts Miracle-Gro in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $225.00 price target for the company. Truist Securities decreased their price objective on shares of The Scotts Miracle-Gro from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, July 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of The Scotts Miracle-Gro from $240.00 to $198.00 and set a “neutral” rating for the company in a research report on Thursday, June 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $227.56.
The Scotts Miracle-Gro stock traded down $0.16 during trading on Wednesday, hitting $144.75. The company had a trading volume of 1,283 shares, compared to its average volume of 402,967. The Scotts Miracle-Gro has a 1-year low of $143.08 and a 1-year high of $254.34. The company has a current ratio of 2.15, a quick ratio of 1.22 and a debt-to-equity ratio of 1.90. The company’s 50 day simple moving average is $166.61 and its 200-day simple moving average is $201.68. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 14.68 and a beta of 1.13.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Paragon Wealth Strategies LLC acquired a new position in The Scotts Miracle-Gro in the second quarter valued at $27,000. Hexagon Capital Partners LLC increased its stake in The Scotts Miracle-Gro by 123.1% in the first quarter. Hexagon Capital Partners LLC now owns 116 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 64 shares during the period. Berman Capital Advisors LLC increased its stake in The Scotts Miracle-Gro by 124.7% in the second quarter. Berman Capital Advisors LLC now owns 164 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 91 shares during the period. Jones Financial Companies Lllp increased its stake in The Scotts Miracle-Gro by 101.2% in the second quarter. Jones Financial Companies Lllp now owns 167 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 84 shares during the period. Finally, Ameritas Investment Company LLC acquired a new position in shares of The Scotts Miracle-Gro during the first quarter worth about $35,000. 62.24% of the stock is owned by hedge funds and other institutional investors.
The Scotts Miracle-Gro Company Profile
Scotts Miracle-Gro Co engages in the manufacture, marketing, and distribution of systems and accessories for hydroponic gardening. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer segment consists of consumer lawn and garden business. The Hawthorn segment includes indoor, urban, and hydroponic gardening business.
Further Reading: The risks of owning bonds
Receive News & Ratings for The Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.