Scotts Miracle-Gro (NYSE:SMG) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Scotts Miracle-Gro has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating improved investor confidence in the company's stock performance.
• Analysts have set varying price targets for Scotts Miracle-Gro, with a consensus target of $71.33, showcasing differing perspectives on the company's value.
• The company recently reported quarterly earnings of $2.59 EPS, surpassing expectations but experiencing a slight revenue decline of 1.2% year-over-year.

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

Other equities research analysts have also issued research reports about the stock. UBS Group set a $68.00 price objective on shares of Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a "buy" rating in a research report on Monday, July 14th. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $71.33.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG opened at $61.87 on Friday. Scotts Miracle-Gro has a one year low of $45.61 and a one year high of $93.90. The business's 50-day moving average price is $64.86 and its two-hundred day moving average price is $61.79. The company has a market capitalization of $3.57 billion, a P/E ratio of 81.41 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $2.31 EPS. The firm's revenue was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American National Bank & Trust acquired a new stake in Scotts Miracle-Gro in the 2nd quarter worth $28,000. Spire Wealth Management increased its holdings in shares of 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 purchasing an additional 454 shares during the period. UMB Bank n.a. raised its position in shares of Scotts Miracle-Gro by 479.4% during the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock valued at $31,000 after buying an additional 465 shares during the last quarter. Avalon Trust Co bought a new stake in shares of Scotts Miracle-Gro in the first quarter valued at about $41,000. Finally, Byrne Asset Management LLC acquired a new stake in Scotts Miracle-Gro during the second quarter worth about $45,000. Institutional investors own 74.07% of the company's stock.

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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