The Scotts Miracle-Gro (NYSE:SMG) had its price target hoisted by Raymond James from $224.00 to $274.00 in a research note released on Monday morning, AR Network reports. The firm currently has a strong-buy rating on the basic materials company’s stock.
SMG has been the subject of a number of other research reports. Berenberg Bank upgraded shares of The Scotts Miracle-Gro from a hold rating to a buy rating and set a $200.00 price target for the company in a research note on Thursday, November 12th. ValuEngine upgraded shares of The Scotts Miracle-Gro from a sell rating to a hold rating in a research note on Tuesday, January 5th. Truist raised their price objective on shares of The Scotts Miracle-Gro from $180.00 to $250.00 in a report on Thursday, January 7th. Finally, Zacks Investment Research lowered shares of The Scotts Miracle-Gro from a buy rating to a hold rating and set a $178.00 price objective for the company. in a report on Tuesday, November 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The Scotts Miracle-Gro has an average rating of Buy and a consensus target price of $199.50.
SMG stock opened at $224.72 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. The Scotts Miracle-Gro has a 52-week low of $76.50 and a 52-week high of $229.58. The company has a 50-day moving average of $194.06 and a two-hundred day moving average of $165.88. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 39.42 and a beta of 1.08.
The Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, November 4th. The basic materials company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The company had revenue of $890.30 million during the quarter, compared to the consensus estimate of $886.23 million. The Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The firm’s quarterly revenue was up 78.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.91) EPS. Equities analysts expect that The Scotts Miracle-Gro will post 7.26 EPS for the current fiscal year.
In other The Scotts Miracle-Gro news, Director Peter E. Shumlin sold 1,600 shares of the business’s stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $170.72, for a total value of $273,152.00. Following the completion of the sale, the director now owns 9,166 shares of the company’s stock, valued at approximately $1,564,819.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Hagedorn sold 26,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $191.12, for a total transaction of $5,000,845.92. Following the sale, the chief executive officer now directly owns 88,379 shares of the company’s stock, valued at approximately $16,890,994.48. The disclosure for this sale can be found here. 28.20% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of SMG. Raymond James Trust N.A. acquired a new position in The Scotts Miracle-Gro in the 4th quarter valued at approximately $245,000. Sowell Financial Services LLC increased its position in shares of The Scotts Miracle-Gro by 53.5% during the fourth quarter. Sowell Financial Services LLC now owns 1,355 shares of the basic materials company’s stock worth $270,000 after buying an additional 472 shares during the period. IMS Capital Management bought a new position in The Scotts Miracle-Gro during the fourth quarter worth $232,000. Fulton Bank N.A. bought a new position in The Scotts Miracle-Gro during the fourth quarter worth $225,000. Finally, HM Payson & Co. bought a new position in The Scotts Miracle-Gro during the third quarter worth $37,000. 64.86% of the stock is owned by institutional investors and hedge funds.
The Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. 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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