Scotts Miracle-Gro Co (NYSE:SMG) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $79.00.
A number of research firms recently weighed in on SMG. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Bank of America cut their target price on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “sell” rating for the company in a report on Wednesday, August 1st. ValuEngine downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, August 24th.
In related news, Director Nancy G. Mistretta sold 6,300 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $76.93, for a total value of $484,659.00. Following the completion of the sale, the director now directly owns 20,824 shares in the company, valued at $1,601,990.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total value of $3,483,103.68. Following the completion of the sale, the insider now owns 15,652,099 shares of the company’s stock, valued at $1,217,107,218.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,422 shares of company stock valued at $7,103,746. 29.14% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in SMG. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Scotts Miracle-Gro by 119.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,135 shares of the basic materials company’s stock worth $783,000 after purchasing an additional 4,973 shares during the last quarter. LPL Financial LLC lifted its position in shares of Scotts Miracle-Gro by 24.4% during the first quarter. LPL Financial LLC now owns 26,814 shares of the basic materials company’s stock worth $2,299,000 after purchasing an additional 5,267 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Scotts Miracle-Gro during the first quarter worth $306,000. Millennium Management LLC lifted its position in shares of Scotts Miracle-Gro by 532.7% during the first quarter. Millennium Management LLC now owns 35,161 shares of the basic materials company’s stock worth $3,015,000 after purchasing an additional 29,604 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Scotts Miracle-Gro by 6.5% during the first quarter. Legal & General Group Plc now owns 57,614 shares of the basic materials company’s stock worth $4,940,000 after purchasing an additional 3,517 shares during the last quarter. Institutional investors and hedge funds own 65.21% of the company’s stock.
Shares of SMG stock traded down $0.52 on Monday, reaching $70.12. The company’s stock had a trading volume of 79,314 shares, compared to its average volume of 491,027. Scotts Miracle-Gro has a 1 year low of $65.20 and a 1 year high of $110.12. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.99 and a current ratio of 1.60. The firm has a market cap of $3.92 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.76 and a beta of 0.42.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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