Scotts Miracle-Gro (NYSE:SMG) Given a $80.00 Price Target at Truist Financial

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) received a $80.00 price objective from equities researchers at Truist Financial in a report released on Monday, July 14th, MarketBeat reports. The firm currently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective would suggest a potential upside of 18.52% from the stock's current price.

SMG has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their target price for the company from $72.00 to $69.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. cut their price target on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. UBS Group reduced their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut Scotts Miracle-Gro from a "buy" rating to a "hold" rating and raised their price objective for the stock from $70.00 to $71.00 in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

Scotts Miracle-Gro Trading Down 2.4%

Shares of SMG traded down $1.66 during mid-day trading on Monday, hitting $67.50. The company's stock had a trading volume of 607,063 shares, compared to its average volume of 1,071,813. The company's 50-day moving average is $64.65 and its 200-day moving average is $61.83. Scotts Miracle-Gro has a 52-week low of $45.61 and a 52-week high of $93.90. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 135.06 and a beta of 2.01.

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 for the quarter, topping analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. Scotts Miracle-Gro's revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scotts Miracle-Gro

Hedge funds have recently modified their holdings of the company. Private Trust Co. NA raised its holdings in Scotts Miracle-Gro by 1,475.0% in the 2nd quarter. Private Trust Co. NA now owns 1,134 shares of the basic materials company's stock worth $75,000 after purchasing an additional 1,062 shares during the period. Bayforest Capital Ltd acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at $1,157,000. Sagespring Wealth Partners LLC increased its holdings in Scotts Miracle-Gro by 20.8% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,467 shares of the basic materials company's stock worth $361,000 after acquiring an additional 943 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Scotts Miracle-Gro by 15,317.6% during the second quarter. Stephens Consulting LLC now owns 5,242 shares of the basic materials company's stock valued at $346,000 after purchasing an additional 5,208 shares in the last quarter. Finally, CWM LLC grew its position in shares of Scotts Miracle-Gro by 382.7% in the second quarter. CWM LLC now owns 17,121 shares of the basic materials company's stock valued at $1,129,000 after purchasing an additional 13,574 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

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.