Scotts Miracle-Gro (NYSE:SMG) Rating Lowered to Hold at Stifel Nicolaus

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) was downgraded by equities research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research note issued to investors on Monday, Marketbeat reports. They currently have a $71.00 price objective on the basic materials company's stock, up from their previous price objective of $70.00. Stifel Nicolaus' price target suggests a potential upside of 11.39% from the stock's current price.

Several other research analysts have also commented on the company. Truist Financial boosted their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, June 6th. UBS Group dropped their target price on shares of 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. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. cut 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 research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.67.

Scotts Miracle-Gro Stock Performance

NYSE SMG traded down $0.30 during trading hours on Monday, hitting $63.74. The company had a trading volume of 524,466 shares, compared to its average volume of 975,288. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -132.79 and a beta of 1.99. Scotts Miracle-Gro has a 52 week low of $45.61 and a 52 week high of $93.90. The firm has a 50 day simple moving average of $56.43 and a 200 day simple moving average of $63.04.

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

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of large investors have recently added to or reduced their stakes in the business. Atala Financial Inc bought a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in Scotts Miracle-Gro during the 4th quarter valued at about $26,000. Spire Wealth Management grew its position in Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after acquiring an additional 454 shares during the last quarter. UMB Bank n.a. increased its stake in Scotts Miracle-Gro by 479.4% in the 1st 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 during the period. Finally, Tortoise Investment Management LLC lifted its position in 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 valued at $34,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company's stock.

About Scotts Miracle-Gro

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.