Scotts Miracle-Gro (NYSE:SMG) Raised to Buy at Wall Street Zen

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently issued reports on SMG. Weiss Ratings restated a "hold (c)" rating on shares of Scotts Miracle-Gro in a report on Monday. Jefferies Financial Group reiterated a "buy" rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. UBS Group set a $67.00 target price on Scotts Miracle-Gro in a research note on Thursday, January 29th. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $70.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. cut shares of Scotts Miracle-Gro from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $70.00 to $67.00 in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Scotts Miracle-Gro Stock Down 2.0%

Shares of NYSE SMG opened at $61.07 on Friday. Scotts Miracle-Gro has a twelve month low of $52.00 and a twelve month high of $72.35. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 34.12 and a beta of 1.88. The company's fifty day moving average is $64.16 and its 200-day moving average is $61.20.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, topping the consensus estimate of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. On average, research analysts anticipate that Scotts Miracle-Gro will post 4.35 EPS for the current fiscal year.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 50,000 shares of the company's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $66.40, for a total transaction of $3,320,000.00. Following the sale, the director owned 13,167,641 shares in the company, valued at approximately $874,331,362.40. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark J. Scheiwer purchased 693 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $71.44 per share, with a total value of $49,507.92. Following the completion of the purchase, the executive vice president owned 15,370 shares of the company's stock, valued at approximately $1,098,032.80. This represents a 4.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 24.40% of the stock is currently owned by insiders.

Institutional Trading of Scotts Miracle-Gro

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft grew its position in shares of Scotts Miracle-Gro by 3.9% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company's stock valued at $312,000 after acquiring an additional 193 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $26,000. Dimensional Fund Advisors LP lifted its stake in Scotts Miracle-Gro by 8.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 895,841 shares of the basic materials company's stock valued at $54,475,000 after purchasing an additional 72,179 shares during the last quarter. Swiss National Bank lifted its stake in Scotts Miracle-Gro by 0.8% in the 1st quarter. Swiss National Bank now owns 91,800 shares of the basic materials company's stock valued at $5,582,000 after purchasing an additional 700 shares during the last quarter. Finally, Kestrel Investment Management Corp bought a new position in Scotts Miracle-Gro during the first quarter worth about $2,390,000. 74.07% of the stock is 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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