Scotts Miracle-Gro (NYSE:SMG) Given New $90.00 Price Target at Truist Financial

Scotts Miracle-Gro (NYSE:SMG) had its price objective increased by Truist Financial from $65.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s target price would indicate a potential downside of 0.75% from the stock’s previous close.

Several other research firms have also issued reports on SMG. Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.75.

Scotts Miracle-Gro Stock Up 1.9 %

Scotts Miracle-Gro stock traded up $1.67 during mid-day trading on Wednesday, reaching $90.68. 194,005 shares of the company’s stock were exchanged, compared to its average volume of 808,015. The firm has a market capitalization of $5.15 billion, a PE ratio of -14.55 and a beta of 1.76. Scotts Miracle-Gro has a one year low of $43.67 and a one year high of $91.09. The business’s fifty day simple moving average is $75.37 and its 200 day simple moving average is $70.53.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.42. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. On average, sell-side analysts forecast that Scotts Miracle-Gro will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the transaction, the insider now owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,078 shares of company stock worth $6,325,042 in the last quarter. 26.46% of the stock is owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Scotts Miracle-Gro by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 77,564 shares of the basic materials company’s stock valued at $4,945,000 after purchasing an additional 1,807 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after buying an additional 192 shares during the last quarter. Fulton Bank N.A. bought a new stake in Scotts Miracle-Gro during the 1st quarter worth about $237,000. Yarbrough Capital LLC increased its stake in shares of Scotts Miracle-Gro by 46.6% in the 1st quarter. Yarbrough Capital LLC now owns 16,976 shares of the basic materials company’s stock valued at $1,266,000 after acquiring an additional 5,395 shares during the last quarter. Finally, MJP Associates Inc. ADV bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $213,000. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Company Profile

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.