Scotts Miracle-Gro (NYSE:SMG) Lowered to Hold at Truist Financial

Scotts Miracle-Gro (NYSE:SMGGet Rating) was downgraded by stock analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Wednesday, FinViz reports. They presently have a $85.00 price target on the basic materials company’s stock, down from their prior price target of $185.00. Truist Financial’s target price points to a potential downside of 16.81% from the stock’s previous close.

Several other research analysts also recently commented on SMG. Raymond James reduced their price target on shares of Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 14th. Stifel Nicolaus lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their target price for the company from $130.00 to $116.00 in a report on Wednesday, May 4th. StockNews.com cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $150.00 to $130.00 in a report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Wells Fargo lowered their price objective on Scotts Miracle-Gro from $145.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $147.33.

NYSE:SMG opened at $102.18 on Wednesday. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. The firm has a market capitalization of $5.66 billion, a P/E ratio of 14.35 and a beta of 1.19. Scotts Miracle-Gro has a one year low of $87.11 and a one year high of $206.99. The company’s 50-day simple moving average is $105.32 and its 200 day simple moving average is $131.16.

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

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 60,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 261,816 shares in the company, valued at $25,589,895.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James D. King sold 17,500 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the sale, the executive vice president now directly owns 9,760 shares of the company’s stock, valued at $960,579.20. The disclosure for this sale can be found here. Insiders sold a total of 79,805 shares of company stock worth $7,848,045 in the last 90 days. 27.31% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Scotts Miracle-Gro by 116.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,363 shares of the basic materials company’s stock valued at $782,000 after acquiring an additional 3,417 shares in the last quarter. Aurora Investment Counsel boosted its stake in shares of Scotts Miracle-Gro by 1.0% in the first quarter. Aurora Investment Counsel now owns 14,310 shares of the basic materials company’s stock valued at $1,760,000 after buying an additional 139 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Scotts Miracle-Gro by 33.7% during the first quarter. Neuberger Berman Group LLC now owns 91,372 shares of the basic materials company’s stock worth $11,235,000 after buying an additional 23,051 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Scotts Miracle-Gro by 3.7% in the first quarter. Resources Management Corp CT ADV now owns 5,146 shares of the basic materials company’s stock valued at $633,000 after purchasing an additional 184 shares during the period. Finally, Toroso Investments LLC boosted its position in Scotts Miracle-Gro by 8.6% during the first quarter. Toroso Investments LLC now owns 9,270 shares of the basic materials company’s stock valued at $1,140,000 after acquiring an additional 731 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

About Scotts Miracle-Gro (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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