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Scotts Miracle-Gro (NYSE:SMG) Given New $75.00 Price Target at Truist Financial

Scotts Miracle-Gro logo with Basic Materials background

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $70.00 to $75.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. Truist Financial's price target suggests a potential upside of 14.74% from the stock's previous close.

Several other equities analysts also recently commented on the company. Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price objective for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their price target for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Finally, UBS Group reduced their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has an average rating of "Moderate Buy" and an average target price of $67.67.

View Our Latest Report on SMG

Scotts Miracle-Gro Stock Down 1.7%

Scotts Miracle-Gro stock traded down $1.11 during mid-day trading on Friday, reaching $65.37. 1,415,828 shares of the company's stock were exchanged, compared to its average volume of 976,086. The business's fifty day simple moving average is $55.96 and its 200 day simple moving average is $63.03. The firm has a market capitalization of $3.77 billion, a PE ratio of -136.18 and a beta of 1.99. Scotts Miracle-Gro has a one year low of $45.61 and a one year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. Scotts Miracle-Gro's revenue for the quarter was down 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Institutional Investors Weigh In On Scotts Miracle-Gro

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

Scotts Miracle-Gro Company Profile

(Get Free Report)

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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