The Scotts Miracle-Gro Company (NYSE:SMG) Given Average Recommendation of “Hold” by Analysts

The Scotts Miracle-Gro Company (NYSE:SMG) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $73.00.

SMG has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $67.00 in a report on Thursday, March 26th. Wells Fargo & Company boosted their price objective on Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus dropped their price objective on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th.

Scotts Miracle-Gro Price Performance

Shares of NYSE:SMG opened at $67.51 on Friday. Scotts Miracle-Gro has a 1-year low of $52.00 and a 1-year high of $75.34. The company has a market capitalization of $3.93 billion, a P/E ratio of 37.71 and a beta of 1.81. The firm’s 50 day simple moving average is $63.44 and its two-hundred day simple moving average is $63.92.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro during the first quarter valued at approximately $26,000. Key Capital Management INC purchased a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Scotts Miracle-Gro during the third quarter worth $32,000. Elevation Wealth Partners LLC boosted its position in shares of Scotts Miracle-Gro by 394.1% during 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. Finally, SBI Securities Co. Ltd. grew its stake in Scotts Miracle-Gro by 127.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 499 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Company Profile

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.