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

Key Points

• Wall Street Zen downgraded Scotts Miracle-Gro from “Buy” to “Hold,” contributing to a consensus “Hold” rating from analysts and an average price target of $75.20.
• Analyst views remain mixed: Wells Fargo and UBS raised their price targets, while Jefferies and Stifel maintained “Buy” ratings; three analysts rate the stock Buy and four rate it Hold.
• Scotts Miracle-Gro reported quarterly EPS of $2.82, beating estimates by $0.34, while revenue reached $1.17 billion, up 1.1% year over year. The stock opened at $65.72, below the consensus price target.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday. Jefferies Financial Group restated a "buy" rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. UBS Group upped their price objective on Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Stifel Nicolaus dropped their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a "buy" rating for the company in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of "Hold" and a consensus price target of $75.20.

Scotts Miracle-Gro Price Performance

SMG opened at $65.72 on Friday. Scotts Miracle-Gro has a fifty-two week low of $52.00 and a fifty-two week high of $75.34. The firm's fifty day moving average price is $64.84 and its two-hundred day moving average price is $64.27. The company has a market capitalization of $3.82 billion, a P/E ratio of 57.15 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $2.59 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts expect that Scotts Miracle-Gro will post 4.35 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephen L. Johnson sold 1,171 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $68.32, for a total transaction of $80,002.72. Following the transaction, the director owned 30,179 shares in the company, valued at $2,061,829.28. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors have recently modified their holdings of SMG. Cassaday & Co Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro during the first quarter valued at approximately $26,000. Key Capital Management INC bought a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Scotts Miracle-Gro during the 3rd quarter worth $32,000. Elevation Wealth Partners LLC lifted its holdings in Scotts Miracle-Gro by 394.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company's stock worth $51,000 after buying an additional 599 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company's stock valued at $52,000 after buying an additional 499 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

About Scotts Miracle-Gro

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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