Truist Financial Cuts Scotts Miracle-Gro (NYSE:SMG) Price Target to $70.00

Scotts Miracle-Gro (NYSE:SMG) had its price objective dropped by research analysts at Truist Financial from $90.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s target price points to a potential downside of 3.96% from the company’s previous close.

A number of other brokerages have also recently commented on SMG. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group dropped their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.60.

Scotts Miracle-Gro Trading Down 0.1 %

Scotts Miracle-Gro stock traded down $0.10 during trading hours on Friday, hitting $72.89. 96,463 shares of the stock traded hands, compared to its average volume of 809,486. The firm’s 50-day moving average price is $80.84 and its two-hundred day moving average price is $72.40. The company has a market cap of $4.14 billion, a PE ratio of -106.83 and a beta of 1.76. Scotts Miracle-Gro has a one year low of $48.29 and a one year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.94) by ($0.37). Scotts Miracle-Gro had a negative return on equity of 44.97% and a negative net margin of 0.98%. The company had revenue of $414.70 million during the quarter, compared to the consensus estimate of $392.95 million. On average, sell-side analysts expect that Scotts Miracle-Gro will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction 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 sale, the insider now owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.46% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of hedge funds have recently added to or reduced their stakes in SMG. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Scotts Miracle-Gro by 1.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock worth $338,421,000 after purchasing an additional 49,262 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Scotts Miracle-Gro by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after purchasing an additional 42,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Scotts Miracle-Gro by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock worth $203,359,000 after purchasing an additional 542,406 shares in the last quarter. Millennium Management LLC increased its stake in shares of Scotts Miracle-Gro by 6.8% in the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock worth $53,048,000 after purchasing an additional 52,136 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after purchasing an additional 502,353 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other 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.