Scotts Miracle-Gro (NYSE:SMG) Upgraded to "Hold" at StockNews.com

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Thursday.

A number of other brokerages have also issued reports on SMG. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Monday, March 4th. Raymond James restated a "market perform" rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Scotts Miracle-Gro has an average rating of "Hold" and a consensus price target of $69.29.

Scotts Miracle-Gro Stock Down 0.4 %

SMG traded down $0.27 on Thursday, reaching $74.08. The company had a trading volume of 1,065,283 shares, compared to its average volume of 778,240. Scotts Miracle-Gro has a 1 year low of $43.67 and a 1 year high of $78.25. The stock has a market capitalization of $4.20 billion, a PE ratio of -10.52 and a beta of 1.70. The stock has a 50-day moving average price of $63.86 and a 200-day moving average price of $58.21.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The business had revenue of $410.40 million for the quarter, compared to analyst estimates of $412.83 million. During the same period in the previous year, the business posted ($1.02) earnings per share. The business's revenue was down 22.1% compared to the same quarter last year. As a group, analysts expect that Scotts Miracle-Gro will post 2.65 earnings per share for the current fiscal year.

Insider Activity at Scotts Miracle-Gro

In related news, Director Stephen L. Johnson sold 1,394 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now owns 22,918 shares of the company's stock, valued at $1,314,347.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Stephen L. Johnson sold 1,394 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now owns 22,918 shares of the company's stock, valued at $1,314,347.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the transaction, the director now directly owns 13,777,012 shares in the company, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,750 shares of company stock valued at $6,604,492. Company insiders own 26.46% of the company's stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of large investors have recently bought and sold shares of SMG. Price T Rowe Associates Inc. MD raised its stake in Scotts Miracle-Gro by 62.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,330,654 shares of the basic materials company's stock worth $161,837,000 after purchasing an additional 1,283,911 shares during the period. Lazard Asset Management LLC purchased a new position in Scotts Miracle-Gro during the third quarter worth approximately $28,336,000. Northern Trust Corp raised its stake in Scotts Miracle-Gro by 52.5% during the fourth quarter. Northern Trust Corp now owns 1,543,066 shares of the basic materials company's stock worth $98,370,000 after purchasing an additional 531,160 shares during the period. Norges Bank purchased a new position in Scotts Miracle-Gro during the fourth quarter worth approximately $27,699,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Scotts Miracle-Gro during the first quarter worth approximately $29,141,000. Hedge funds and other institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

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