Scotts Miracle-Gro (NYSE:SMG) Stock Rating Lowered by Wall Street Zen

Key Points

• Scotts Miracle-Gro has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting concerns about the company's future performance.
• Several analysts, including Zacks Research and Wells Fargo, have also adjusted their ratings and price targets for the stock, indicating a shift in market perception.
• Despite recent downgrades, the consensus rating remains a "Moderate Buy" with an average price target of $69.17, suggesting potential for future growth.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Scotts Miracle-Gro from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a research report on Friday, September 26th. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Scotts Miracle-Gro in a research report on Friday. Finally, UBS Group decreased their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $69.17.

Scotts Miracle-Gro Stock Up 0.1%

Shares of Scotts Miracle-Gro stock opened at $55.45 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 72.95 and a beta of 1.96. The company's 50 day moving average is $58.85 and its 200 day moving average is $60.13. Scotts Miracle-Gro has a twelve month low of $45.61 and a twelve month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm earned $2.31 earnings per share. The company's quarterly revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Sell-side analysts expect that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, EVP Mark J. Scheiwer bought 1,790 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of $61.32 per share, with a total value of $109,762.80. Following the completion of the purchase, the executive vice president owned 10,130 shares of the company's stock, valued at approximately $621,171.60. The trade was a 21.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the transaction, the director directly owned 13,217,641 shares of the company's stock, valued at $832,975,735.82. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors have recently bought and sold shares of the stock. Spire Wealth Management grew its stake in Scotts Miracle-Gro by 32.1% during the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 176 shares in the last quarter. Moors & Cabot Inc. grew its stake in Scotts Miracle-Gro by 3.1% during the first quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company's stock valued at $352,000 after acquiring an additional 191 shares in the last quarter. State of Michigan Retirement System grew its stake in Scotts Miracle-Gro by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company's stock valued at $565,000 after acquiring an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Scotts Miracle-Gro by 2.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company's stock valued at $484,000 after acquiring an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Scotts Miracle-Gro by 1.6% during the third quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the basic materials company's stock valued at $706,000 after acquiring an additional 200 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

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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