Scotts Miracle-Gro Co (SMG) Receives $79.00 Average Target Price from Brokerages

Scotts Miracle-Gro Co (NYSE:SMG) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $79.00.

Several analysts have recently weighed in on SMG shares. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Bank of America cut their price objective on Scotts Miracle-Gro from $77.00 to $72.00 and set a “sell” rating for the company in a report on Wednesday, August 1st. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a report on Friday, August 24th.

Shares of Scotts Miracle-Gro stock opened at $70.64 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 3.72. The firm has a market capitalization of $3.70 billion, a PE ratio of 17.93, a PEG ratio of 3.55 and a beta of 0.42. Scotts Miracle-Gro has a fifty-two week low of $65.20 and a fifty-two week high of $110.12.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.12. The business had revenue of $994.60 million during the quarter, compared to analyst estimates of $996.40 million. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Equities analysts anticipate that Scotts Miracle-Gro will post 3.77 earnings per share for the current fiscal year.

In other news, Director Katherine Littlefield Hagedorn sold 40,329 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total transaction of $3,135,983.04. Following the completion of the sale, the director now directly owns 6,511 shares of the company’s stock, valued at $506,295.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total value of $3,483,103.68. Following the sale, the insider now directly owns 15,652,099 shares of the company’s stock, valued at $1,217,107,218.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,422 shares of company stock valued at $7,103,746. 29.14% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in shares of Scotts Miracle-Gro during the third quarter valued at $9,103,000. American Century Companies Inc. lifted its holdings in shares of Scotts Miracle-Gro by 23.5% during the third quarter. American Century Companies Inc. now owns 8,284 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 1,577 shares during the last quarter. Gabelli Funds LLC lifted its stake in Scotts Miracle-Gro by 3.7% in the 3rd quarter. Gabelli Funds LLC now owns 28,000 shares of the basic materials company’s stock worth $2,204,000 after acquiring an additional 1,000 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Scotts Miracle-Gro by 13.4% in the 3rd quarter. Gamco Investors INC. ET AL now owns 104,600 shares of the basic materials company’s stock worth $8,235,000 after acquiring an additional 12,400 shares in the last quarter. Finally, Markel Corp lifted its stake in Scotts Miracle-Gro by 128.4% in the 3rd quarter. Markel Corp now owns 169,000 shares of the basic materials company’s stock worth $13,306,000 after acquiring an additional 95,000 shares in the last quarter. 65.03% of the stock is owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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Analyst Recommendations for Scotts Miracle-Gro (NYSE:SMG)

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