Truist Financial Forecasts Strong Price Appreciation for Scotts Miracle-Gro (NYSE:SMG) Stock

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its target price hoisted by analysts at Truist Financial from $75.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective points to a potential upside of 16.24% from the company's current price.

Several other equities research analysts have also weighed in on SMG. 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. UBS Group cut their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the stock from $72.00 to $69.00 in a report on Monday, April 7th. Finally, Stifel Nicolaus lowered Scotts Miracle-Gro from a "buy" rating to a "hold" rating and upped their price target for the stock from $70.00 to $71.00 in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock traded down $0.49 during trading hours on Monday, hitting $68.82. 91,726 shares of the company were exchanged, compared to its average volume of 958,169. Scotts Miracle-Gro has a one year low of $45.61 and a one year high of $93.90. The business's 50-day simple moving average is $62.33 and its two-hundred day simple moving average is $61.69. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 138.09 and a beta of 2.01.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.50 billion. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. The business's revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $3.69 earnings per share. As a group, analysts anticipate that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Institutional Trading of Scotts Miracle-Gro

Institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. increased its holdings in Scotts Miracle-Gro by 3.1% in the 1st quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company's stock worth $352,000 after purchasing an additional 191 shares in the last quarter. Investment House LLC increased its holdings in Scotts Miracle-Gro by 0.3% in the 4th quarter. Investment House LLC now owns 61,190 shares of the basic materials company's stock worth $4,059,000 after purchasing an additional 195 shares in the last quarter. Huntington National Bank increased its holdings in Scotts Miracle-Gro by 5.8% in the 4th quarter. Huntington National Bank now owns 3,664 shares of the basic materials company's stock worth $243,000 after purchasing an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Scotts Miracle-Gro by 2.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company's stock worth $484,000 after purchasing an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Scotts Miracle-Gro by 2.0% in 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 buying an additional 200 shares during the period. 74.07% of the stock is currently owned by 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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