Scotts Miracle-Gro (NYSE:SMG) Price Target Lowered to $77.00 at UBS Group

Scotts Miracle-Gro (NYSE:SMG) had its target price lowered by analysts at UBS Group from $90.00 to $77.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective suggests a potential upside of 3.56% from the stock’s current price.

A number of other equities research analysts also recently issued reports on SMG. Wells Fargo & Company cut their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday. Truist Financial boosted their target price on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.60.

Scotts Miracle-Gro Price Performance

SMG traded up $0.06 during trading hours on Thursday, hitting $74.35. 549,422 shares of the stock were exchanged, compared to its average volume of 806,599. Scotts Miracle-Gro has a 12 month low of $48.29 and a 12 month high of $93.90. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -15.69 and a beta of 1.76. The stock has a 50-day simple moving average of $80.80 and a 200-day simple moving average of $72.39.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.94) by ($0.37). The company had revenue of $414.70 million during the quarter, compared to the consensus estimate of $392.95 million. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. Sell-side analysts expect that Scotts Miracle-Gro will post 2.62 EPS for the current year.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the transaction, the insider now owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now directly 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 at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.46% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

A number of institutional investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter valued at approximately $26,000. Farther Finance Advisors LLC grew its holdings in Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares during the last quarter. Blue Trust Inc. raised its holdings in Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Scotts Miracle-Gro in the second quarter worth approximately $25,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares in the last quarter. 74.07% of the stock is currently 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.