Scotts Miracle-Gro (NYSE:SMG) Given a $80.00 Price Target by Truist Financial Analysts

Scotts Miracle-Gro (NYSE:SMG) has been given a $80.00 target price by investment analysts at Truist Financial in a report released on Monday, Marketbeat reports. The firm presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s price objective would indicate a potential upside of 19.37% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their price target for the company from $70.00 to $71.00 in a research report on Monday, June 9th. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. UBS Group lowered their price objective on Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and lowered their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock opened at $67.02 on Monday. The firm has a market cap of $3.87 billion, a P/E ratio of 134.04 and a beta of 2.01. Scotts Miracle-Gro has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The business’s 50 day moving average price is $62.84 and its 200-day moving average price is $61.75.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $3.69 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts predict that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $2,139,000. Swiss National Bank raised its stake in shares of Scotts Miracle-Gro by 0.8% in the fourth quarter. Swiss National Bank now owns 83,900 shares of the basic materials company’s stock worth $5,566,000 after purchasing an additional 700 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $6,399,000. Xponance Inc. raised its stake in shares of Scotts Miracle-Gro by 5.5% in the fourth quarter. Xponance Inc. now owns 4,849 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 252 shares during the last quarter. Finally, Investment House LLC raised its stake in shares of Scotts Miracle-Gro by 0.3% in the fourth quarter. Investment House LLC now owns 61,190 shares of the basic materials company’s stock worth $4,059,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

About Scotts Miracle-Gro

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.