The Scotts Miracle-Gro Company (NYSE:SMG) Receives $73.00 Consensus Target Price from Analysts

The Scotts Miracle-Gro Company (NYSE:SMG) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $73.00.

SMG has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, June 8th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $67.00 in a research report on Thursday, March 26th. Wells Fargo & Company lifted their price objective on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC purchased a new stake in Scotts Miracle-Gro in the first quarter worth approximately $26,000. Key Capital Management INC purchased a new stake in Scotts Miracle-Gro during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Scotts Miracle-Gro during the 3rd quarter valued at $32,000. Elevation Wealth Partners LLC lifted its holdings in shares of Scotts Miracle-Gro by 394.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock valued at $51,000 after buying an additional 599 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after buying an additional 499 shares during the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Down 0.1%

NYSE:SMG opened at $70.93 on Friday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 39.62 and a beta of 1.81. The company’s 50 day moving average price is $62.71 and its 200-day moving average price is $63.64. Scotts Miracle-Gro has a 52 week low of $52.00 and a 52 week high of $75.34.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.98 EPS. As a group, sell-side analysts anticipate that Scotts Miracle-Gro will post 4.3 earnings per share for the current year.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.