Weiss Ratings Reiterates "Hold (C-)" Rating for Scotts Miracle-Gro (NYSE:SMG)

Key Points

• Weiss Ratings has reiterated a "Hold (C-)" rating for Scotts Miracle-Gro (NYSE:SMG), indicating a cautious outlook on the stock.
• Shares of Scotts Miracle-Gro opened at $55.45 and have experienced a decline in target prices from various analysts, with an average target price of $69.17.
• Insider trading activity includes EVP Mark J. Scheiwer purchasing 1,790 shares, reflecting a 21.46% increase in ownership, while a director sold 56,633 shares, contributing to a diversification of investment views.

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

SMG has been the subject of several other research reports. Stifel Nicolaus reduced their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a research note on Monday, August 4th. UBS Group reduced their target price on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, October 2nd. Wall Street Zen raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Truist Financial set a $80.00 price target on shares of Scotts Miracle-Gro and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Zacks Research downgraded shares of Scotts Miracle-Gro from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.17.

Scotts Miracle-Gro Trading Up 0.1%

Shares of SMG stock opened at $55.45 on Friday. The firm has a market capitalization of $3.20 billion, a PE ratio of 72.95 and a beta of 1.96. The firm has a fifty day simple moving average of $58.85 and a two-hundred day simple moving average of $60.13. Scotts Miracle-Gro has a 12 month low of $45.61 and a 12 month high of $93.90.

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

Insider Activity

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer acquired 1,790 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average cost of $61.32 per share, with a total value of $109,762.80. Following the completion of the acquisition, the executive vice president directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the sale, the director directly owned 13,217,641 shares in the company, valued at approximately $832,975,735.82. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently modified their holdings of SMG. American National Bank & Trust purchased a new stake in shares of Scotts Miracle-Gro in the second quarter worth about $28,000. Spire Wealth Management lifted its holdings in shares of Scotts Miracle-Gro by 477.9% in the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after buying an additional 454 shares in the last quarter. Avalon Trust Co purchased a new stake in shares of Scotts Miracle-Gro in the first quarter worth about $41,000. Byrne Asset Management LLC purchased a new stake in shares of Scotts Miracle-Gro in the second quarter worth about $45,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro in the third quarter worth about $55,000. 74.07% of the stock is owned by hedge funds and other 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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