Scotts Miracle-Gro (SMG) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Scotts Miracle-Gro (NYSE:SMG) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $74.00 price target on the basic materials company’s stock.

According to Zacks, “Scotts Miracle-Gro is likely to benefit from the synergies of the Sunlight Supply acquisition. The company will also gain from the long-term prospects and cost-saving opportunities associated with the Hawthorne division.”

Several other analysts also recently commented on the stock. Raymond James raised shares of Scotts Miracle-Gro from a market perform rating to an outperform rating and set a $71.00 target price for the company in a research report on Monday, December 17th. ValuEngine upgraded shares of Scotts Miracle-Gro from a sell rating to a hold rating in a research note on Wednesday, November 7th. Finally, Bank of America upgraded shares of Scotts Miracle-Gro from an underperform rating to a neutral rating and set a $72.00 price objective for the company in a research note on Wednesday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Scotts Miracle-Gro presently has an average rating of Hold and an average price target of $76.40.

SMG stock opened at $67.88 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.45 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. Scotts Miracle-Gro has a 12 month low of $57.96 and a 12 month high of $110.12.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.08). The business had revenue of $434.00 million during the quarter, compared to the consensus estimate of $441.10 million. Scotts Miracle-Gro had a return on equity of 44.65% and a net margin of 2.39%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) earnings per share. On average, equities research analysts predict that Scotts Miracle-Gro will post 4.18 EPS for the current fiscal year.

In other news, insider Michael C. Lukemire sold 10,156 shares of the business’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $69.82, for a total value of $709,091.92. Following the completion of the sale, the insider now directly owns 49,001 shares in the company, valued at $3,421,249.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 30.37% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in shares of Scotts Miracle-Gro in the third quarter worth $145,000. IMS Capital Management raised its stake in Scotts Miracle-Gro by 8.8% during the 3rd quarter. IMS Capital Management now owns 2,174 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 175 shares during the last quarter. Verition Fund Management LLC acquired a new position in Scotts Miracle-Gro during the 3rd quarter valued at $228,000. CENTRAL TRUST Co raised its stake in Scotts Miracle-Gro by 29.9% during the 4th quarter. CENTRAL TRUST Co now owns 2,934 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 675 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in Scotts Miracle-Gro during the 2nd quarter valued at $256,000. Institutional investors and hedge funds own 63.89% of the company’s stock.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internatonally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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