Scotts Miracle-Gro's (SMG) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Scotts Miracle-Gro's (SMG) stock has received a "hold (C-)" rating from Weiss Ratings, indicating a cautious stance on its current performance.
• Wells Fargo lowered its target price for SMG from $75.00 to $67.00, while other analysts set various price targets, showing mixed opinions on the company's future.
• Scotts Miracle-Gro reported a quarterly EPS of $2.59, exceeding analysts' expectations but with revenues down 1.2% year-over-year, raising concerns about growth prospects.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

SMG has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group set a $71.00 price target on Scotts Miracle-Gro in a report on Friday, September 26th. Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday, August 4th. Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro has an average rating of "Moderate Buy" and an average price target of $69.17.

Scotts Miracle-Gro Price Performance

NYSE:SMG traded up $1.21 during midday trading on Wednesday, reaching $59.03. 1,089,332 shares of the company traded hands, compared to its average volume of 640,799. Scotts Miracle-Gro has a twelve month low of $45.61 and a twelve month high of $93.90. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 77.67 and a beta of 1.96. The company has a fifty day moving average price of $60.31 and a 200 day moving average price of $60.09.

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 EPS for the quarter, beating the consensus estimate of $2.19 by $0.40. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. Scotts Miracle-Gro's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, equities research analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the transaction, the director owned 13,274,274 shares of the company's stock, valued at $826,721,784.72. This represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark J. Scheiwer purchased 1,790 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president owned 10,130 shares in the company, valued at $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.37% of the stock is currently owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently modified their holdings of SMG. American National Bank & Trust acquired a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $28,000. Spire Wealth Management raised its stake in shares of Scotts Miracle-Gro by 477.9% in the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 454 shares during the period. UMB Bank n.a. raised its stake in shares of 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 valued at $31,000 after purchasing an additional 465 shares during the period. Avalon Trust Co acquired a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $41,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds 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.

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