Scotts Miracle-Gro (NYSE:SMG) Given New $76.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Scotts Miracle-Gro’s price target from $75 to $76 while maintaining a “buy” rating, implying approximately 15.6% upside from the stock’s $65.72 opening price.
• Analyst sentiment remains mixed: the stock has an average “hold” rating and a consensus price target of $75.40, with targets ranging from $77 to $79 among other major firms.
• Scotts Miracle-Gro exceeded quarterly earnings expectations, reporting $2.82 in adjusted earnings per share versus the $2.48 consensus estimate; revenue rose 1.1% year over year to $1.17 billion.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its price objective upped by stock analysts at Stifel Nicolaus from $75.00 to $76.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Stifel Nicolaus' price target points to a potential upside of 15.64% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Scotts Miracle-Gro in a research note on Friday. Wells Fargo & Company increased their target price on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday. Jefferies Financial Group reaffirmed a "buy" rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Finally, UBS Group boosted their target price on Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $75.40.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $65.72 on Monday. The business's 50 day simple moving average is $64.84 and its two-hundred day simple moving average is $64.29. The stock has a market capitalization of $3.82 billion, a P/E ratio of 57.15 and a beta of 1.81. Scotts Miracle-Gro has a one year low of $52.00 and a one year high of $75.34.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $2.59 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Scotts Miracle-Gro will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen L. Johnson sold 1,171 shares of Scotts Miracle-Gro stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $68.32, for a total value of $80,002.72. Following the completion of the transaction, the director owned 30,179 shares of the company's stock, valued at $2,061,829.28. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Scotts Miracle-Gro

Institutional investors and hedge funds have recently bought and sold shares of the company. Rehmann Capital Advisory Group lifted its stake in shares of Scotts Miracle-Gro by 4.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company's stock worth $275,000 after buying an additional 187 shares in the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Scotts Miracle-Gro by 3.9% during the first quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company's stock valued at $312,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Scotts Miracle-Gro by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,126 shares of the basic materials company's stock valued at $555,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Scotts Miracle-Gro by 7.3% during the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company's stock valued at $218,000 after acquiring an additional 218 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Scotts Miracle-Gro by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company's stock worth $296,000 after acquiring an additional 294 shares during 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.

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