Scotts Miracle-Gro (NYSE:SMG) Price Target Lowered to $77.00 at UBS Group

Scotts Miracle-Gro (NYSE:SMG) had its target price reduced by investment analysts at UBS Group from $90.00 to $77.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential upside of 3.56% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus increased their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Truist Financial boosted their price objective on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.60.

Scotts Miracle-Gro Stock Up 0.1 %

SMG stock traded up $0.06 during mid-day trading on Thursday, reaching $74.35. 549,422 shares of the company traded hands, compared to its average volume of 806,599. The firm’s 50 day moving average price is $80.80 and its 200 day moving average price is $72.39. Scotts Miracle-Gro has a fifty-two week low of $48.29 and a fifty-two week high of $93.90. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -15.69 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, November 6th. The basic materials company reported ($2.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.94) by ($0.37). Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The firm had revenue of $414.70 million during the quarter, compared to the consensus estimate of $392.95 million. On average, analysts anticipate that Scotts Miracle-Gro will post 2.62 EPS for the current fiscal year.

Insider Transactions at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the completion of the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.46% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in Scotts Miracle-Gro in the 3rd quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the second quarter valued at about $29,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 269 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.