Scotts Miracle-Gro (NYSE:SMG) Stock Price Target Lowered at Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered Scotts Miracle-Gro’s price target from $76 to $75 but maintained a “buy” rating, implying 54.66% potential upside from the previous close.
• Analyst sentiment remains moderately positive, with three buy ratings and three hold ratings and a consensus price target of $75.20.
• Scotts Miracle-Gro reported quarterly EPS of $2.82, beating estimates of $2.48, while revenue reached $1.17 billion and increased 1.1% year over year.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its target price decreased by research analysts at Stifel Nicolaus from $76.00 to $75.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Stifel Nicolaus' target price points to a potential upside of 54.66% from the stock's previous close.

SMG has been the topic of several other research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Scotts Miracle-Gro in a research report on Friday, July 31st. Wall Street Zen cut shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price target on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.20.

Scotts Miracle-Gro Stock Down 4.7%

NYSE:SMG opened at $48.49 on Tuesday. The company has a market cap of $2.82 billion, a P/E ratio of 42.17 and a beta of 1.83. Scotts Miracle-Gro has a twelve month low of $48.34 and a twelve month high of $75.34. The business has a 50 day moving average price of $60.59 and a two-hundred day moving average price of $62.15.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.34. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. As a group, analysts anticipate that Scotts Miracle-Gro will post 4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark D. Kingdon sold 831 shares of Scotts Miracle-Gro stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.65, for a total transaction of $51,231.15. Following the completion of the sale, the director owned 10,827 shares of the company's stock, valued at approximately $667,484.55. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen L. Johnson sold 1,171 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $68.32, for a total transaction of $80,002.72. Following the completion of the transaction, the director owned 30,179 shares in the company, valued at approximately $2,061,829.28. This trade represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,002 shares of company stock valued at $2,154,734 over the last ninety days. 24.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors have recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new stake in Scotts Miracle-Gro during the 1st quarter worth approximately $26,000. Elevation Wealth Partners LLC grew its holdings in Scotts Miracle-Gro by 394.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company's stock valued at $51,000 after buying an additional 599 shares in the last quarter. Hantz Financial Services Inc. increased its position in Scotts Miracle-Gro by 64.9% during the 4th quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company's stock worth $56,000 after buying an additional 379 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Scotts Miracle-Gro by 661.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,219 shares of the basic materials company's stock worth $74,000 after buying an additional 1,059 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $81,000. Institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a manufacturer and marketer of branded consumer lawn and garden products. Founded in 1868 and headquartered in Marysville, Ohio, the company serves homeowners and gardening enthusiasts through products designed for growing, feeding, protecting and maintaining plants and lawns.

Its portfolio includes lawn fertilizers, grass seed, gardening soils, plant foods, weed and pest controls, and related gardening products. Well-known brands include Scotts, Miracle-Gro, Turf Builder, Ortho, Tomcat and Earthgro.

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