The Scotts Miracle-Gro (NYSE:SMG) PT Lowered to $200.00

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.

The Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, August 4th. The basic materials company reported $3.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.46. The Scotts Miracle-Gro had a net margin of 11.11% and a return on equity of 66.94%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $3.80 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that The Scotts Miracle-Gro will post 9.21 earnings per share for the current fiscal year.

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.

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