Scotts Miracle-Gro (NYSE:SMG) Given New $130.00 Price Target at Wells Fargo & Company

Scotts Miracle-Gro (NYSE:SMGGet Rating) had its target price cut by equities researchers at Wells Fargo & Company from $145.00 to $130.00 in a research note issued to investors on Thursday, The Fly reports. Wells Fargo & Company‘s price objective indicates a potential upside of 41.12% from the company’s previous close.

SMG has been the topic of a number of other reports. Truist Financial lowered their price objective on shares of Scotts Miracle-Gro from $225.00 to $185.00 in a research report on Tuesday, March 22nd. Barclays downgraded shares of Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. Raymond James decreased their price objective on shares of Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating for the company in a report on Monday, March 14th. Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $130.00 to $116.00 in a report on Wednesday, May 4th. Finally, JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $150.00 to $130.00 in a report on Wednesday, May 4th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Buy” and a consensus price target of $158.44.

Shares of SMG opened at $92.12 on Thursday. The company’s 50 day moving average price is $107.54 and its 200 day moving average price is $133.35. Scotts Miracle-Gro has a 52 week low of $87.11 and a 52 week high of $214.19. The company has a market capitalization of $5.10 billion, a PE ratio of 12.94 and a beta of 1.19. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.13 and a current ratio of 2.21.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.34. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $5.64 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. On average, equities analysts forecast that Scotts Miracle-Gro will post 7 earnings per share for the current fiscal year.

In related news, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the sale, the director now directly owns 20,233 shares in the company, valued at approximately $2,293,612.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Hagedorn sold 60,000 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the completion of the sale, the chief executive officer now owns 261,816 shares in the company, valued at $25,589,895.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,805 shares of company stock valued at $7,848,045. Corporate insiders own 27.31% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. Joseph Group Capital Management bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $798,000. Ellevest Inc. boosted its position in Scotts Miracle-Gro by 177.2% during the fourth quarter. Ellevest Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 101 shares during the period. Confluence Wealth Services Inc. bought a new position in Scotts Miracle-Gro during the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in Scotts Miracle-Gro by 84.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 97 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Scotts Miracle-Gro during the first quarter worth $27,000. Institutional investors own 62.23% of the company’s stock.

Scotts Miracle-Gro Company Profile (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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