Scotts Miracle-Gro (NYSE:SMG) Price Target Raised to $75.00 at Wells Fargo & Company

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its price objective increased by Wells Fargo & Company from $72.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. Wells Fargo & Company's price objective points to a potential upside of 7.96% from the stock's current price.

SMG has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their target price for the company from $72.00 to $69.00 in a report on Monday, April 7th. Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating and boosted their target price for the company from $70.00 to $71.00 in a report on Monday, June 9th. UBS Group reduced their price target on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Truist Financial lifted their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.17.

Scotts Miracle-Gro Trading Up 2.0%

NYSE:SMG opened at $69.47 on Wednesday. The company has a market capitalization of $4.01 billion, a P/E ratio of 138.94 and a beta of 2.01. Scotts Miracle-Gro has a twelve month low of $45.61 and a twelve month high of $93.90. The firm has a 50-day moving average price of $61.35 and a two-hundred day moving average price of $61.69.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, topping analysts' consensus estimates of $3.95 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.69 earnings per share. On average, equities research analysts predict that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $26,000. Spire Wealth Management lifted its position in shares of Scotts Miracle-Gro by 477.9% during the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after purchasing an additional 454 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Scotts Miracle-Gro by 479.4% during the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its position in shares of Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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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