Scotts Miracle-Gro (NYSE:SMG) Given New $62.00 Price Target at UBS Group

Key Points

• UBS Group has lowered the price target for Scotts Miracle-Gro from $68.00 to $62.00, while maintaining a "neutral" rating on the stock, which indicates a potential upside of 6.26% from its current price.
• Despite UBS's downgrade, other analysts like Truist Financial have set a higher target price of $80.00, with several ratings ranging from "buy" to "hold," leading to an average rating of "Moderate Buy" with a consensus target of $69.17.
• The company's recent earnings beat consensus estimates, reporting $2.59 earnings per share, although revenue fell short of expectations at $1.19 billion, reflecting a 1.2% decrease year-over-year.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its price target cut by UBS Group from $68.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. UBS Group's price target indicates a potential upside of 6.26% from the company's current price.

A number of other analysts have also recently commented on SMG. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Zacks Research cut shares of Scotts Miracle-Gro from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Finally, Stifel Nicolaus reduced their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a report on Monday, August 4th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.17.

Scotts Miracle-Gro Stock Up 2.4%

Shares of Scotts Miracle-Gro stock opened at $58.35 on Thursday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 76.77 and a beta of 1.96. The company's 50 day moving average is $61.25 and its 200 day moving average is $60.14. Scotts Miracle-Gro has a twelve month low of $45.61 and a twelve month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.40. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Sell-side analysts expect that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director directly owned 13,274,274 shares of the company's stock, valued at approximately $826,721,784.72. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark J. Scheiwer bought 1,790 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average cost of $61.32 per share, with a total value of $109,762.80. Following the completion of the purchase, the executive vice president directly owned 10,130 shares of the company's stock, valued at $621,171.60. This represents a 21.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 25.37% of the company's stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors have recently bought and sold shares of the business. Spire Wealth Management grew its holdings in shares of Scotts Miracle-Gro by 32.1% during the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company's stock worth $48,000 after buying an additional 176 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Scotts Miracle-Gro by 3.1% during the 1st quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company's stock valued at $352,000 after acquiring an additional 191 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Scotts Miracle-Gro by 2.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company's stock valued at $484,000 after acquiring an additional 200 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Scotts Miracle-Gro by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company's stock valued at $565,000 after acquiring an additional 200 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in shares of Scotts Miracle-Gro by 4.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company's stock valued at $248,000 after acquiring an additional 207 shares during the last quarter. 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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